Untitled

A
SUMMER TRAINING REPORT

Performance Appraisal with Special Reference to Reliance Life Insurance Corp.
SUBMITTED TO
Submitted In Partial Fulfillment for the Award of the Degree of

“Master of Business Administration”
2009-2010
UNDER PROVISION OF- SUBMITTED BY
Mohd. Aamir sonali agarwal
(Ex. Sales Manager) M
.B.A. 3rd Sem.
Reliance Life Insurance, Sitapur. ROLL NO.092
2170014
INSTITUTE OF ENGINEERING &TECHNOLOGY,

SITAPUR-261001
CONTENTS
Certificate
Preface
Acknowledgement
Declaration
Executive Summary
Index
Bibliography
Annexure
PREFACE
A project report may be described plan of any activities undertaking. We may say
that the project reports described are various activities of he concern. It giv
es us practical aspect of the concerning subject.
The numbers and importance of project report operating is growing at a very fast
rate in the society. We now need input from different specialization area; the
project report is very suitable for detailed study on any area i have prepared p
roject report on the topic Performance appraisal of employees in different fi
eld like Reliance life Insurance.
At present insurance Sector has emerged as one of the good business amongst othe
r, everyone wants to get insure himself/herself because nobody knows that what w
ill happen in future. Except in everyone wants to invest the money where it incr
eases at a desirable rate with safety. These are the reasons why insurance secto
r is getting the Covent of people. Now Insurance sector is expanding its wings w
ithout carrying any boundary. Large number of companies are dealing in this fiel
d and trying to encase the potential customer.
Now a day the fastest growing insurance sector has also affected the very big ma
rket & share.
Reliance life Insurance is one the most renowned company in insurance sector. It
is one of the India’s leading private life insurance companies.
It is effort to know Performance appraisal as the ladder to be a successful le
ader .
Performance appraisal is a method of rating the success achieved by the perso
n concerned in his field of work .
ACKNOWLEDGEMENT
Project work plays an important role in providing practical knowledge to student
s. .A successful project can never be prepared by the single effort of the perso
n to whom project is assigned ,but it also demand the help and guardianship of s
ome conversant person who helped the undersigned actively or passively in comple
tion of successful project.
I wish to express my thank to one and all who helped me while I complete thi
s project.
First and foremost let me raise my heart to god almighty for helping me in
various ways to complete this project. I would express my sincere thanks to Mr.
Mohammad Aamir, Executive Sales Manager, Mr. Aamir Siddiqui,,Branch Manager,RLI
C ,Sitapur. I would also like to thank all the employees of RLIC,Sitapur for the
ir support in project.
I am also thankful to my project guide Mr Laxman Trivedi for their help and
guidance at every step of my project. Lastly I would like to thanks my parents
for their encouragement during the project work.
Sonali Agarwal
MBA, 3RD SEM
DECLARATION
I hereby declare that the project report entitled “PERFORMANCE APPRAISAL
OF EMPLOYEES WITH SPECIAL REFRENCE TO RELIANCE LIFE INSURANCE CO. LTD” submitted f
or the Master of Business Administration Degree is my original work and the proj
ect has not formed the basis for the award of any degree, associate ship, fellow
ship or any other similar titles.
Place:
Date : PR
AGYA MISHRA
EXECUTIVE SUMMARY
Anil Dhirubhai Ambani Group (ADAG) announces the acquisition of 100

percent shareholding in AMP Sanmar Life Insurance Company Limited.
Reliance Life Insurance Company Limited is officially launched on
February 1, 2006. This was after obtaining the required regulatory approv
als
From the Registrar of Companies and the Insurance Regulatory and
Development Authority. Reliance Insurance is the part of the Reliance
Capital.
Reliance Life Insurance has plenty of plans on the anvil. It has als
o 118
branches, with strong presence in South and a bouquet of products cat
ering savings protection and investment need of individuals and corporat
e. The head- office of it is at Chennai. The company has already added
600 employees in addition to the 1000 plus staff of the erstwhile AMP
Sanmar Life Insurance Company Limited.
Reliance Life Insurance aims to be the consumer’s preferred life insurer by
understanding and meeting his needs.
Think Bigger, Think Better!
INDEX
CHAPTER NO
CHAPTER-1
1.1 Objective of the study
1.2 Scope of the study
CHAPTER-2
INTRODUCTION OF THE TOPIC
2.1 What is Performance Appraisal?
2.2 Features of Performance Appraisal
2.3 Objectives of Performance Appraisal
2.4 What is to be appraised?
2.5 Who will appraise?
2.6 Key elements of Performance Appraisal system
2.7 Essential characteristics of an effective appraisal system
2.8 Objectives of Performance Appraisal in RLIC
2.9 Process of Performance Appraisal
2.10 Purpose of Performance Appraisal
CHAPTER-3
COMPANY PROFILE
3.1 Tribute To Founder
3.2 About Reliance Life Insurance
3.3 History
3.4 Vision & Mission
3.5 Goal of the company
3.6 Core values
3.7 Future plans
3.8 Journey so far…
3.9 Head- office
3.10 Branches
3.11 Meaning of the Insurance
3.12 Key features of Life Insurance
3.13 Benefits of Life Insurance
3.14 Role of Life Insurance in Indian Economy
3.15 Different plan and policies of Reliance Life meaning of Insurance
CHAPTER-4
4.1 Basic elements of Life Insurance Products
4.2 How products are constructed
CHAPTER-5
Research Methodology
CHAPTER-6
Analysis and Interpretation
CHAPTER-7
7.1 Findings
7.2 Limitation of the study
7.3 Recommendation & suggestion
7.4 Conclusion
7.5 SWOT Analysis
CHAPTER-8
8.1 Bibliography
8.2 Annexure:-
a) Questionnaire
b) Advisor Form
c) IRDA Certificate
CHAPTER- 1
OBJECTIVES OF THE STUDY
________________________________________
• To review the performance of the employees over a given period of time.
• To judge the gap between the actual and the desire performance.
• To help the management in exercising organizational control.
• Strengthen the relationship and communication between superior – subordinates and
management – employees.
• To diagnose the strengths and weaknesses of the individuals so as to identify th
e training and development needs of the future.
• To provide feedback to the employees regarding their past performance.
• Provide information to assist in the other personal decisions in the organizatio
n.
• Provide clarity of the expectations and responsibilities of the functions to be
performed by the employees.
• To judge the effectiveness of the other human resource functions of the organiza
tion such as recruitment, selection, training and development
• in exercising organizational control.
• Helps to strengthen the relationship and communication between superior – subordin
ates and management – employees.
• To diagnose the strengths and weaknesses of the individuals so as to identify th
e training and development needs of the future.
• To provide feedback to the employees regarding their past performance.
• Provide information to assist in the other personal decisions in the organizatio
n.
SCOPE OF THE STUDY

• scope of any performance appraisal should include the following : provid
e employees with a better understanding of their role and responsibilit
ies; increase confidence through recognizing strengths while identifying
training needs to improve weaknesses; improve working relationships and
communication between supervisors and subordinates; increase commitment to org
anizational goals; develop employees into future supervisors; assist in per
sonnel decisions such as promotions or allocating rewards; and allow
time for self-reflection, self-appraisal and personal goal setting.
• Employee are the most significant resource of any business, and perfo
rmance appraisals reflect the organization s commitment in developing thi
s important resource of human capital. Performance appraisals grant up
per management an opportunity to reward excellent performance or reprim
and unsatisfactory performance . This powerful managerial tool should di
rectly reflect the overall organization s goals and objectives; the emplo
yee assessment should provide useful feedback about the employee s contr
ibutions or lack of contributions toward these goals.
CHAPTER-2
INTRODUCTION 0F THE TOPIC

________________________________________
Performance appraisal is one of the traditional & most universal practices of ma

nagement. It is a systematic & objective way of judging the relative worth or ab
ility of an employee in performing his task. Modern management refers to an appr
aisal system in which the employee’s merits like initiative, dependability, person
ality etc. Are compared with others and ranked & rated. The trend now days are
in the direction of attempting to measure what the man does (performance apprais
al) rather than what he is (merit rating). Employees also wish to know their pos
ition in the organization. Performance appraisal helps to identify those who are
performing their assigned task well & those who are not & the reason for such p
erformance. Appraisals are judgments of characteristics, traits & performance of
others on the basis of which we assess the worth or value of others & identify
what is good or bad.
Performance appraisal is an important tool for measuring managerial efficiency,
organizational effectiveness, monitoring & measuring the performance of employee
s.
2.1 What is performance appraisal?

Performance appraisal is a method of evaluating the behavior of employee in the
work spot, normally both the quantitative and qualitative aspects of the job per
formance. It is
a systematic and objective way of evaluating both work – behavior and potential of
employees.
2.2 Features of Performance Appraisal

The main characteristics of Performance Appraisal:-
1 .A systematic Process
2. Not a one shot deal
3. A future oriented activity
4. Performance appraisal is not job evaluation.
2.3 Objectives of Performance Appraisal
Appraisal of employee serves several useful purposes:

a) Compensation decisions:-
It can serve a basis for pay rises. Managers need performance appraisal to iden
tify employees who are performing at or above expected levels.
b) Promotion decisions:-
It can serve as useful basis for job change or promotion. When merit is the bas
is for reward, the person doing the best job receives the promotion.
c) Training and developmental programmes:-
Performance appraisal can inform employees about their progress and tell them w
hat skills they need to become eligible for pay raises or promotions or both.
d) Feedback:-
It tells him what he can do to improve his present performance and go up to orga
nizational ladder.
e) Personal development:-
Performance appraisal can help reveal the cause of good and poor employee perfor
mance through discussions with individual employee.
2.4 What is to be appraised?

Every organization has to decide upon the content to be appraised before the pro
gramme is approved. Generally, the content to be appraised is determined on the
basis of job analysis.
• behaviors which measures observable physical actions , movements
• Objectives which measure job related results like amount of deposits mobilized
, and
• Traits which are measured in term of personal characteristics observable in empl
oyee’s job activities.
2.5 Who will appraise?
The appraiser may be any person who has thorough knowledge about the job content
, contents to be appraised, standards of the content and who observes the employ
ee while he performs the job. The appraiser should be capable to determine what
is more important and what is relatively less important. He should prepare repo
rts and make judgments without bias. Typical appraisers are: supervisors, peer
s, subordinates, employees themselves and users of services and consultants.
2.6 Key Elements of Performance Appraisal Systems

2.7 Essential characteristics of an effective appraisal system
Performance appraisal system should be effective as a number of crucial decision
s are made on the basis of score or rating given by appraiser, which in turn, is
heavily based on the appraisal system.
An appraisal system, to be effective, should possess the following essential cha
racteristics:-
A) Relibility And Validity:-
Appraisal system should provide consistent, reliable and valid information and d
ata. The technique make them demonstrably satisfies the conditions of inter-rate
r reliability. Appraisals must also satisfy the condition of validity, by measur
ing what they are supposed to measure. For example, if appraisal is made for p
otential of an employee for promotion, it supplies the information and data rela
ting to potentialities of the employee to take up higher responsibilities and ca
rry on activities on high level.
B) Job Relatedness :-
The appraisal technique should measure the performance and provide information i
n job related activities/areas.
C) Standardization:-
Appraisal forms, procedures, administration of techniques, ratings, etc. should
be standardized as appraisal decisions affect all employees of the group.
D) Practical Viability:-
The techniques should be practically viable to administer, possible to implement
and economical to undertake continuously.
E) Legal Sanctions:-
Appraisal must meet the laws of land. They must comply with provisions of variou
s statues relating to labour.
F) Training To Appraisers:-
Because appraisal is important and sometimes difficult, it would be useful to pr
ovide training to appraiser’s viz., some insights and ideas on rating, documenting
appraisals and conducting appraisal interviews.
G) Open Communications:-
Most employees want to know how well they are performing the job. A good apprais
al provides the needed feedback on a continuing basis. Managers should clearly
explain their performance expectations to their subordinates in advance of the
appraisals period. Once this is known, it becomes easy for employees to learn ab
out the yardsticks and, if possible, try to improve their performance in future.
H) Employee Access To Results:-
Employee should know the rules of the game. They should receive adequate feedbac
k on their performance. If performance appraisals are meant for improving employ
ee performance, then withholding appraisal result would not serve any purpose. E
mployee simply cannot perform better without having access to this information.
2.8 Objectives Of Performance Appraisal In RLIC
Data relating to performance appraisal of employees are recorded, store

d, and used for several purposes.
The main objectives of employees performance appraisal in RLIC include
effecting promotions and transfers, assessing training needs, awarding
pay increases, and the like, i.e
• To effect promotions based on competence and performance.
• To confirms the services of probationary employees upon their completing
the probationary period satisfactorily.
• To assess the traning and development needs of employees.
• To decide upon a pay raise where (as in the unorganized sector ) reg
ular pay scales have not been fixed.
• To let the employees know where they stand insofar as their performa
nce is concerned and to assist them with constructive criticism and g
uidance for their development.
• To improve communication. Performance appraisal provides a format for di
alogue between the superior and the subordinate, and improves understan
ding of personal goals and concerns. This can also have the effect
of increasing the trust between the rate and rate.
• Finally, performance appraisal can be used used to determine whether H
R Programmes such as selection, taining, and transfers have been effect
ive or not.
2.9 Process Of Performance Appraisal
• Establishing performance standards:-
The first step in the process of performance appraisal is the setting up of the
standards which will be used to as the base to compare the actual performance of
the employees. This step requires setting the criteria to judge the performance
of the employees as successful or unsuccessful and the degrees of their contrib
ution to the organizational goals and objectives. The standards set should be cl
ear, easily understandable and in measurable terms. In case the performance of t
he employee cannot be measured, great care should be taken to describe the stand
ards.
• Communicating the standards:-
Once set, it is the responsibility of the management to communicate the standard

s to all the employees of the organization. The employees should be informed and
the standards should be clearly explained to the. This will help them to unders
tand their roles and to know what exactly is expected from them. The standards s
hould also be communicated to the appraisers or the evaluators and if required,
the standards can also be modified at this stage itself according to the relevan
t feedback from the employees or the evaluators The employees should be informed
and the standards should be clearly explained to the. This will help them to un
derstand their roles and to know what exactly is expected from them. The standar
ds should also be communicated to the appraisers or the evaluators and if requir
ed, the standards can also be modified at this stage itself according to the rel
evant feedback from the employees or the evaluators.
• Measuring the actual performance:-

The most difficult part of the Performance appraisal process is measuring the ac
tual performance of the employees that is the work done by the employees during
the specified period of time. It is a continuous process which involves monitori
ng the performance throughout the year. This stage requires the careful selectio
n of the appropriate techniques of measurement, taking care that personal bias d
oes not affect the outcome of the process and providing assistance rather than i
nterfering in an employees work.
• Comparing the actual with the desired performance:-
The actual performance is compared with the desired or the standard performance.
The comparison tells the deviations in the performance of the employees from th
e standards set. The result can show the actual performance being more than the
desired performance or, the actual performance being less than the desired perfo
rmance depicting a negative deviation in the organizational performance.
• Discussing Results:-
The result of the appraisal is communicated and discussed with the employees on
one-to-one basis. The focus of this discussion is on communication and listening
. The results, the problems and the possible solutions are discussed with the ai
m of problem solving and reaching consensus. The feedback should be given with a
positive attitude as this can have an effect on the employees’ future performance
. The purpose of the meeting should be to solve the problems faced and motivate
the employees to perform better.
Decision Making:-
The last step of the process is to take decisions which can be taken either to i
mprove the performance of the employees, take the required corrective actions, o
r the related HR decisions like rewards, promotions
2.10 Purpose Of Performance Appraisal
Performance Appraisal is being practiced in 90% of the organisations worldwide.

Self-appraisal and potential appraisal also form a part of the performance appra
isal processes.
Typically, Performance Appraisal is aimed at:
To review the performance of the employees over a given period of time.
To judge the gap between the actual and the desired performance.
To help the management in exercising organizational control.
• To diagnose the training and development Provide information to assist in the H
R decisions like promotions, transfers etc.
• To judge the effectiveness of the other human resource functions of the organiza
tion such as recruitment, selection, training and development.
• To reduce the grievances of the employees.
• Helps to strengthen the relationship and communication between superior – subordin
ates and management needs of the future employees.
• using performance appraisal for the various purposes are as shown in
METHODS OF PERFORMANCE APPRAISAL
1. Essay Appraisal Method :-

This traditional form of appraisal, also known as "Free Form method" involves a
description of the performance of an employee by his superior. The description i
s an evaluation of the performance of any individual based on the facts and ofte
n includes examples and evidences to support the information. A major drawback o
f the method is the inseparability of the bias of the evaluator.
2. Straight Ranking Method:-
This is one of the oldest and simplest techniques of performance appraisal. In t
his method, the appraiser ranks the employees from the best to the poorest on th
e basis of their overall performance. It is quite useful for a comparative evalu
ation.
3. Paired Comparison:-
A better technique of comparison than the straight ranking method, this method c
ompares each employee with all others in the group, one at a time. After all the
comparisons on the basis of the overall comparisons, the employees are given th
e final rankings.
4. Critical Incidents Methods:-
In this method of Performance appraisal, the evaluator rates the employee on the
basis of critical events and how the employee behaved during those incidents. I
t includes both negative and positive points. The drawback of this method is tha
t the supervisor has to note down the critical incidents and the employee behavi
our as and when they occur.
5. Field Review:-
In this method, a senior member of the HR department or a training officer discu
sses and interviews the supervisors to evaluate and rate their respective subord
inates. A major drawback of this method is that it is a very time consuming meth
od. But this method helps to reduce the superiors’ personal bias.
6.Checklist Method:-
The rater is given a checklist of the descriptions of the behavior of the employ
ees on job. The checklist contains a list of statements on the basis of which th
e rater describes the on the job performance of the employees.
7. Graphic Rating Scale:-
In this method, an employee’s quality and quantity of work is assessed in a graphi
c scale indicating different degrees of a particular trait. The factors taken in
to consideration include both the personal characteristics and characteristics r
elated to the on the job performance of the employees. For example a trait like
Job Knowledge may be judged on the range of average, above average, outstanding
or unsatisfactory.
8. Forced Distribution:-
To eliminate the element of bias from the rater’s ratings, the evaluator is asked
to distribute the employees in some fixed categories of ratings like on a normal
distribution curve. The rater chooses the appropriate fit for the categories on
his own discretion.
1. Management By Objective :-
It is the popular technique of performance appraisal. The original work on MBO
can be found in Peter F. Druker’s work. At the start of the appraisal period supe
rior and subordinates agree upon specific results to be obtained during that per
iod. At periodic intervals, superior and subordinates review performance and con
sider the degree to which the projected results have been achieved. It is emphas
ized upon Goal – Oriented. It is a process that converts organizational objective
into individual objective. It consists of four steps:-
Goal Setting
Action Planning
Self Control
360 Degree Performance appraisal:-

360-degree feedback is an evaluation method that incorporates feedback from the
worker, his/her peers, superiors, subordinates, and customers. Results of these
confidential surveys are tabulated and shared with the worker, usually by a mana
ger. Interpretation of the results, trends and themes are discussed as part of t
he feedback. The primary reason to use this full circle of confidential reviews
is to provide the worker with information about his/her performance from multipl
e perspectives. From this feedback, the worker is able to set goals for self-dev
elopment which will advance their career and benefit the organization. With 360-
degree feedback, the worker is central to the evaluation process and the ultimat
e goal is to improve individual performance within the organization. Under ideal
circumstances, 360-degree feedback is used as an assessment for personal develo
pment rather than evaluation (Tornow, W., 1998). Unfortunately, not all circumst
ances are ideal.
Factors Linked to Success
Organizations who experience success with the 360-degree feedback methods have m
any environmental attributes present. Some of these are:
• Organizational climate fosters individual growth
• Criticisms are seen as opportunities for improvement (Randal, A., 2004)
• Proper framing of feedback method by management
• Assurance that feedback will be kept confidential
• Development of feedback tool based on organizational goals and values
• Feedback tool includes area for comments (Hoff manner, A., 2004)
• Brief workers, evaluators and supervisors about purpose, uses of data and method
s of survey prior to distribution of tool
• Train workers in appropriate methods to give and receive feedback
• Support feedback with back-up services or customized coaching
Factors Linked to Failure
Many organizations have rushed into 360-degree feedback without laying the found
ation for success. Typical errors include:
• Feedback tied to merit pay or promotions
• Comments traced to individuals causing resentment between workers
• Feedback not linked to organizational goals or values
• Use of the feedback tool as a standalone without follow-up
• Poor implementation of 360-degree tool negatively affects motivation
• Excessive number of surveys are required of each worker with few tangible result
s provided to individuals (Clark, S., Whit tall, A., 2003)
CHAPTER-3
COMPANY PROFILE
________________________________________
3.1 Tribute To Founder
Late Shri. Dhirubhai H Ambani.

Few men in history have made as dramatic a contribution to their country’s economi
c fortunes as did the founder of Reliance, Shri. Dhirubhai H Ambani. Fewer still
have left behind a legacy that is more enduring and timeless.
As with all great pioneers, there is more than one unique way of describing the
true genius of Dhirubhai: The corporate visionary, the unmatched strategist, the
proud patriot,
the leader of men, the architect of India’s capital markets, the champion of share
holder interest.
But the role Dhirubhai cherished most was perhaps that of India’s greatest wealth
creator. In one lifetime, he built, starting from the proverbial scratch, India’s
largest private sector enterprise.
When Dhirubhai embarked on his first business venture, he had a seed capital of
barely US$ 300 (around Rs 14,000). Over the next three and a half decades, he co
nverted this fledgling enterprise into a Rs 60,000 crore—an achievement which earn
ed Reliance a place on the global Fortune 500 list, the first ever Indian privat
e company to do so.
Dhirubhai is widely regarded as the father of India’s capital markets. In 1977, wh
en Reliance Textile Industries Limited first went public, the Indian stock marke
t was a place patronized by a small club of elite investors which dabbled in a h
andful of stocks.
Undaunted, Dhirubhai managed to encourage a large number of first-time retail in
vestors to participate in the unfolding Reliance story and put their hard-earned
money in the Reliance Textile IPO, promising them, in exchange for their trust,
substantial return on their investments. It was to be the start of one of great
stories of mutual respect and reciprocal gain in the Indian markets.
Under Dhirubhai’s extraordinary vision and leadership, Reliance scripted one of th
e greatest growth stories in corporate history anywhere in the world, and went o
n to become India’s largest private sector enterprise
Through out this amazing journey, Dhirubhai always kept the interests of the ord
inary shareholder uppermost in mind, in the process making millionaires out of m
any of the initial investors in the Reliance stock, and creating one of the worl
d’s largest shareholder families.
3.2 ABOUT RELIANCE LIFE INSURANCE
ANIL DHIRUBHAI AMBANI GROUP
ANIL DHIRUBAI AMBANI GROUP
RELIANCE CAPITAL
RELIANCE MUTUAL FUND
RELIANCE GROUP INSURANCE
RELIANCE MONEY
RELIANCE LIFE INSURANCE
RELIANCE EQUITY AND BOND
RELIANCE POWER
Reliance Life Insurance Company Ltd. Is one of the major market players in insur
ance sector. It is an associate company of Reliance Capital Ltd., a part of Reli
ance - Anil Dhirubhai Ambani Group.
Being one of the top 3 private sector financial services companies in India, Rel
iance Insurance aims at "empowering everyone live their dreams". Reliance Life I
nsurance or RLIC has insured more than 1.7 Million people in 2 years of operatio
n. Not only this, it is certified ISO 9001:2000 for all the processes. To add an
other feather to its hat, Reliance Life Insurance was awarded the Jamnalal Bajaj
Uchit Vyavahar Puraskar 2007- Certificate of Merit.
Reliance Life Insurance offers you products that fulfill your savings and protec
tion needs. Our aim is to emerge as a transnational Life Insurer of global scale
and standard.
Reliance Life Insurance Company Limited is part of Reliance Capital Ltd.-of the
Reliance Anil Dhirubhai Ambani Group. Reliance Capital is one of the India’s leadi
ng private sector financial service Companies, and ranks among the top 3 private
sector financial services and banking Company in terms of net worth. Reliance C
apital has interests in asset management and mutual funds, Stock broking, life a
nd general insurance, proprietary investments, private equity and other activity
in financial services.
Reliance - Anil Dhirubhai Ambani Group also has presence in Communications, Ener
gy, Natural Resources, Media, Entertainment, Healthcare and Infrastructure.
Reliance life insurance is another step forward for Reliance Capital Limited to
offer need based Life Insurance Solution to individuals and Corporate.
Reliance Life Insurance has a pan India presence and a range of products caterin
g to individual as well as corporate needs. Reliance Life Insurance has 1,145 br
anches and over 142,000 agents. It offers 35 products covering savings, protecti
on & investment requirements.
CORPORATE PROFILE
BOARD OF DIRECTORS:-
• Gautam Doshi, Non Executive Director
• Satya Pal Talwar, Independent Director
• Rajendra Chitale, Independent Director
• Soumen Ghosh, Non Executive Director
• Malay Ghosh, Executive Director & President
TOP MANAGEMENT TEAM-RELIANCE LIFE INSURANCE:-
• Malay Ghosh – Executive Director & President
• S V Sunder Krishnan, Chief Risk Officer
• Sunil Agrawal, Chief Financial Officer
• Saroj K Panigrahi, Head – Legal, Compliance & Company Secretary
• Pournima Gupte, Appointed Actuary
• R Rangarajan, Chief Investment Officer
• Manoranjan Sahoo , Head- Agency
• Maneesha Thakur, Chief Human Resources Officer
• C Mohan, Chief Technology Officer
3.3 HISTORY
Reliance Capital Limited announced the launch of its life insurance business on
February 1, 2006. This was after obtaining the required regulatory approvals fro
m the Registrar Of Companies and the Insurance Regulatory and Development Author
ity.
It was in August 2005 that the ball was set rolling when Reliance Capital Limite
d, the financial arm of Reliance – Anil Dhirubhai Ambani Group (ADAG) – announced th
e requisition of 100% shareholding in AMP Sanmar Life Insurance Company Limited;
and the formal transfer of shares took place in October 2005. The company will
issue all policy contracts under the Reliance Life Insurance Company limited nam
e. All the existing policy contracts also stand transferred to the Reliance Life
Insurance entity with all the original contractual terms and commitments intact
.
3.4 VISION AND MISSION OF RLIC
VISION:
Empowering everyone live their dreams.

MISSION:
Create unmatched value for everyone through dependable, effective, transparent a

nd profitable life insurance and pension plans.
3.5 OUR GOAL
Reliance Life Insurance would strive hard to achieve the 3 goals mentioned below
:
• Emerge as transnational Life Insurer of global scale and standard
• Create best value for Customers, Shareholders and all Stake holders
• Achieve impeccable reputation and credentials through best business practices.
3.6 CORE VALUES
Reliance Life Insurance Company Limited has some core values which are listed as
follows:
1) Result Oriented
2) Performance Driven
3) Customer Focused
4) Learning and Development Oriented
5) Employee Centric
6) Informal and Fun
3.7 FUTURE PLANS

Forty-four new branches to be opened across the country in the coming months; an
d a pan India presence with 162 branches in the coming year.
A state-of-the-art customer care centre will provide continuous, responsive serv
ices to the caller and promptly address queries, collate feedback and suggestion
s from the caller, who may be both prospective and existing clientele and from c
hannel partners in Chennai and Mumbai.
It will be launching additional products aimed at providing unparalleled service
to its valued clientele.
3.8 JOURNEY SO FAR…
2005
August: Anil Dhirubhai Ambani Group (ADAG) announces the acquisition of 100 perc
ent shareholding in AMP Sanmar Life Insurance Co Ltd.
2006
January 17: Mr. Nandgopal participates in a one-day conference on ‘Optimizing grow
th opportunities through Distribution Matrix: ‘Emerging Banc assurance’ organized by
the Asia Insurance Post at the Taj President, Mumbai.
February 1: Reliance Life Insurance officially launched.
February 16, 17, 18: Strategy meet at the Reliance Management Institute. Amongst
those who participate are the CEO, COO, Functional Heads, Regional Managers and
Regional Sales Managers.
February 26: A Puja held at the Church gate office situated in Express Building,
4th Floor, 14 ‘E’ Road, Mumbai.
March 1: Church gate office inaugurated by Mr. Amitabh Jhunjhunwala, Mr. Amitabh
Chaturvedi and Mr. Nandgopal.
March 6: Shifting to the new premises at Church gate commences.
March 7: The new office at Chennai, at the Trapezium, First Floor, # 39, Nelson
Manickam Road, inaugurated by their CEO Mr. Nandgopal, Mr. KV Srinivasan and Mr.
Sureshbabu also graced the occasion. There are many achievements also –
ASSOCIATE COMPANIES
3.9 HEAD – OFFICE

Corporate Office:
Level 1, Midas Wing - A,
Sahar Plaza, Andheri Kurla Road,
Andheri (East) Mumbai - 400 059.
Fax No: +91-22-3088 6587
Registered Office:
H Block, 1st Floor,
Dhirubhai Ambani Knowledge City,
Navi Mumbai, Maharashtra - 400710.
3.10 BRANCHES
They have so many branches and substations in pan India. They have around 160 br
anches in India. And they have planned to open more branches across the country
in the coming months. In Bareilly region there are 12 branches-
1. Sitapur
2. Hardoi
3. Gola
4. Bilgram
5. Badayun
6. Kashganj
7. Puranpur
8. Shajahanpur
9. Bareilly 1
10. Bareilly 2
11. Plilibheet
12. Sahasva
INSURANCE INDUSTRY
3.11 MEANING OF INSURANCE

Insurance can be define as” a contract by which insurance agrees to pay the insure
d a compensation for specified damage loss or injury suffered in exchange for pe
riodic payment called premium”. Insurance cannot prevent the happening of the even
t; it can protect a person from the financial losses he may suffer after the hap
pening of the event.
Therefore, insurance if aimed at compensating the financial loss suffered an ins
ured event.
Classification of insurance:
Insurance is basically classified into two categories.
(1) Life Insurance
(2) General Insurance
Life insurance:
This is provided for the payment of sum money on the death of the insured person
due to natural causes or on the expiry of a certain number of years if the insu
red person is then alive. Death and life neither of them can be compensated. Lif
e insurance aims to compensate the ‘Income Earning Capacity’ of the person.
Events covered in Life Insurance:
In Life Insurance, income –earning capacity of the person is covered. The loss of
the income earning capacity can be on the happening of the following events when
the life is assured.
1. Death.
2. Sickness (critical illness).
3. Accident (Death or permanent disability due to accident) and Retirement.
MEANING OF LIFE INSURANCE
There are three parties in a life insurance transaction: the insurer, the insure
d, and the owner of the policy (policyholder), although the owner and the insure
d are often the same person. Another important person involved in a life insuran
ce policy is the beneficiary. The beneficiary is the person or persons who will
receive the policy proceeds upon the death of the insured. Life insurance may be
divided into two basic classes – term and permanent.
• Term life insurance provides for life insurance coverage for a specified term of
years for a specified premium. The policy does not accumulate cash value.
• Permanent life insurance is life insurance that remains in force until the polic
y matures, unless the owner fails to pay the premium when due.
3.13 BENEFITS OF LIFE INSURANCE
1) Risk cover: -
Life Insurance contracts allow an individual to have a risk cover against any un
fortunate event of the future.
2) Tax Deduction: -
Under section 80C of the Income Tax Act of 1961 one can get tax deduction on pre
miums up to one lakh rupees. Life Insurance policies thus decrease the total tax
able income of an individual.
3) Loans: -
An individual can easily access loans from different financial institutions by p
ledging his insurance policies.
4) Retirement Planning: -
What had provided protection against the financial consequences of premature dea
th may now be used to help them enjoy their retirement years. Moreover the cash
value can be used as an additional income in the old age.
5) Educational Needs: -
Similar to retirement planning the cash values that flow from ones life insuranc
e schemes can be utilized for educational needs of the insurer or his children
3.15 Different Plans and Policies Of Reliance Life Insurance

There are two types of plans in insurance industry-
1) Traditional plan
2) ULIP
RELIANCE LIFE INSURANCE OFFERS A COMPLETE RANGE OF INSURANCE PRODUCTS
SOLUTIONS FOR INDIVIDUAL SOLUTIONS FOR GROUP
INDIVIDUAL PLANS:
1) SAVING AND INVESTMENT PLAN
Reliance endowment Plan

Reliance cash flow plan
Reliance child plan
Reliance whole life plan
Reliance connect 2 life plan
2) RETIREMENT PLANS
Reliance Life Traditional golden years plan

Reliance super golden years term 10 plan
Reliance super automatic investment term 10 plan
Reliance super golden year basic plan
Reliance wealth + health basic plan
3) CHILD PLANS
Reliance super investment assure basic plan.

Reliance Child Plan.
Reliance Wealth + Health term 10 Plan
Reliance Life secure child basic Plan.
4) RISK/PROTECTION
Reliance term plan

Reliance simple term plan
Reliance special term plan
Reliance credit guardian plan
Reliance special credit guardian plan
Now we discuss one by one about the plans-
SAVING AND INVESTMENT PLAN

a) RELIANCE ENDOWMENT PLAN
Secure your dreams today….
It takes a lot for a dream to become a reality. And money is surely an important
part of it.
Reliance Endowment Plan gives you just the financial independence to realise you
r dreams in the future. It lets you decide how much you would like to set as you
r Sum Assured based on your current financial position and your expected future
expenses.
So, go ahead... dream!
b) RELIANCE CASH FLOW PLAN
Life is full of demands….
While most insurance plans block your money for a certain period of time, Relian
ce Cash Flow Plan gives you the double benefit of life insurance along with easy
liquidity through lump sum cash. It provides money periodically when you need i
t.
It lets you live life to the fullest today and at the same time, helps you stay
protected for tomorrow by giving you the flexibility of receiving a specified pe
rcentage of the Sum Assured at specified intervals.
c) RELIANCE CHILD PLAN
Plan for your child today so that they can reap the benefits tomorrow
As a parent, it is only natural to dream of a smooth and blissful life for your
child. This is exactly why you need to secure your child’s tomorrow, today.
Reliance Child Plan helps you save systematically so that you can give your chil
d the much-needed financial security in the future. Simply put, Reliance Child P
lan gives you the freedom to enjoy every moment with your child today, without w
orrying about his/her tomorrow
d) RELIANCE WHOLE LIFE PLAN

With you today….
You’ve always loved your family. As a loving person you want to be rest assured th
at they will be happy, even if something were to happen to you. With Reliance Wh
ole Life Plan you can be sure that your family will receive that timely financia
l support they need.
Go ahead, live your today to the fullest, without a worry about tomorrow.
d) RELIANCE CONNECT 2 LIFE PLAN
No medicals, no hassles, answer 7 question you re insured…..
Reliance Connect 2 Life Plan helps you build security & savings for a better tom
orrow.
As your income is likely to grow, you should also ensure that you have sufficien
t protection for your near and dear ones. Reliance Connect 2 Life Plan ensures t
hat you have the option to upgrade your life cover to keep pace with your changi
ng lifestyle.
RETIREMENT PLANS
a) RELIANCE LIFE TRADITIONAL GOLDEN YEARS PLAN
Age need not slow you down…
Retirement means different things to different people, while some want to relax
and take a trip around the world, some want to start up a venture of their own,
and pursue a dream harnessed for years. The power to make your autumn years spec
ial lies only with you. The Reliance Life Traditional Golden Years Plan gives yo
u the power and the right kind of solution - A retirement plan that allows you t
o save systematically and generate the much-needed corpus to make your Old age y
ears look Golden.
b) RELIANCE SUPER GOLDEN YEAR TERM 10 PLAN

Age need not slow you down…..
UNDER THIS PLAN THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE
POLICYHOLDER.
ial lies only with you. The Reliance Super Golden Years Term 10 Plan gives you t
he power and the right kind of solution - A retirement plan that allows you to s
ave systematically and generate the much-needed corpus to make your olden years
look golden.
c) SUPER AUTOMATIC INVESTMENT TERM 10 PLAN

A plan that does all the work, while I relax…
POLICYHOLDER.
Life is indeed delightful if you have the freedom to make choices. Reliance Supe
r Automatic Investment Term 10 Plan gives you just that ample freedom! And we ma
ke this freedom more enjoyable by giving you a sense of security. Whether it’s you
r insurance or investments, we let you make the choice and leave the rest to us.
So allow us to take over and rest assured, because for us your LIFE comes FIRST
always.
This plan promises Life cover, with a complete flexibility to gain control over
your investments in tune with your financials needs and your risk appetite.
We present a plan that promises what you deserve as you reach greater heights in
life.
For the select few like you, Reliance Super Automatic Investment Term 10 Plan is
an enhanced Unit Linked plan addressing comprehensive needs to strike that perf
ect balance of Protection and Savings with full flexibility as you grow in your
career. Reliance Super Automatic Investment Term 10 Plan gives you full flexibil
ity to choose just the right investment mix to reap higher benefits.
d) RELIANCE SUPER GOLDEN YEAR BASIC PLAN

Age need not slow you down…
POLICYHOLDER.
ial lies only with you. The Reliance Super Golden Years Basic Plan gives you the
power and the right kind of solution - A retirement plan that allows you to sav
e systematically and generate the much-needed corpus to make your olden years lo
ok golden.
e) RELIANCE WEALTH + HEALTH BASIC PLAN

Age need not slow you down….
POLICYHOLDER.
Life changes and as it does, so do your priorities. After all, the circumstances
of your life can determine the type of health coverage you need.
India has made rapid strides in the health sector. Since Independence, life expe
ctancy has gone up markedly and survival rates have also increased, still critic
al health issues remain. Infectious diseases continue to claim a large number of
lives.
Perhaps you re a freshly minted graduate, a joyful newlywed, retiring early or b
etween jobs. Maybe you re running your own business or raising a family — or both.
In any of the situations, GOOD or BAD, health cannot be taken for granted. All
are affected by the rising costs of medical expenses. That’s why it is important t
o plan early and in advance.
3) CHILD PLANS
a) RELIANCE INVESTASSURE BASIC PLAN
You have always aspired for the best in life. And we help you achieve that…
POLICYHOLDER.
Here s a unique plan which combines protection and savings. It also offers compl
ete flexibility to gain control over your investments vis-à-vis your financial nee
ds and risk appetite.
We value your regular investments and thus reward you with Guaranteed Addition t
hus promising unmatched benefits. This plan also offers you a unique option of m
oving from a conservative fund to an aggressive fund systematically, to take adv
antage of the Rupee cost averaging model.
b) RELIANCE CHILD PLAN

Plan for your child today so that they can reap the benefits tomorrow …
orrying about his/her tomorrow.
c) RELIANCE WEALTH + HEALTH TERM 10 PLANS
Age need not slow you down…..
POLICYHOLDER.
Life changes. And as it does, so do your priorities. After all, the circumstance
s of your life can determine the type of health coverage you need.
India has made rapid strides in the health sector. Since Independence, life expe
ctancy has gone up markedly and survival rates have also increased, still critic
al health issues remain. Infectious diseases continue to claim a large number of
lives.
Perhaps you re a freshly minted graduate, a joyful newlywed, retiring early or b
etween jobs. Maybe you re running your own business or raising a family — or both.
In any of the situations, GOOD or BAD, health cannot be taken for granted. All
are affected by the rising costs of medical expenses. That’s why it is important t
o plan early and in advance.
Reliance Wealth + Health Term 10 Plan, a health insurance plan underwritten by R
eliance Life Insurance Company Limited, is designed to work in conjunction with
contributions towards Savings. The uniqueness of this plan is that it not only p
rovides benefits for covered injuries but also for other injuries by encashment
from the unit Fund. This plan from Reliance Life offers the Hospitalization and
Surgical Benefits and also covers Critical Illnesses. In short this plan provide
s you with a personalized quality Health cover that fits your Life Style
d) RELIANCELIFE SECURE CHILD BASIC PLAN

Plan for your child today...
POLICYHOLDER.
Do you see your child becoming a trailblazer?
Will they create the ultimate symphony or give sports a new dimension?
Our children may just be the ones to end the arms race and wipe out poverty from
the face of the Earth. But for them to be able to aim for the skies,YOU NEED TO
ACT NOW !
Introducing Reliance Life Secure Child Basic Plan - a unique life insurance cum
savings plan. Start saving from now and secure the future of your child.
4) RISK/PROTECTION PLANS
a) RELIANCE TERM PLAN
Protect yourself……
Life, as we know, is full of uncertainties. And to keep ahead of them, you need
to plan ahead. Reliance Term Plan is a pure life insurance Plan that offers you
comprehensive and affordable coverage for a limited period of time to suit your
needs.
b) RELIANCE SIMPLE TERM PLAN
Sow the seeds of security today……..
To ensure a bright future, you need to plan from today. The reliance simple term
plan helps you do just that. It is a cost effective, pure life insurance plan t
hat offers you comprehensive and affordable coverage for a limited period of tim
e to suit your needs.
c) RELIANCE SPECIAL TERM PLAN
PROTECT YOURSELF…..
To stay ahead of the uncertainties of life, we need to plan well is advance. Rel
iance Special Term Plan is a pure life insurance plan that offers you comprehens
ive and affordable coverage for a limited period of time to suit your needs.
What s more, on survival at maturity all premiums paid for your basic Policy wil
l be returned to you.
d) RELIANCE CREDIT GAURDIAN PLAN

Safeguard your loans today…..
In today’s world of easily available loans, we often tend to neglect the price our
loved ones have to pay in case of our untimely demise.
Reliance Credit Guardian Plan ensures that your housing loans, personal loans or
even outstanding credit card bills are paid in the event of untimely demise. Th
us keeping you and your family protected from the burden and the worry of debt i
n such a situation.
e) RELIANCE SPECIAL GAURDIAN PLAN

Safeguard your loans today…..
In today’s world of easily available loans, we often tend to neglect the implicati
ons of non-payment in case of our untimely demise.
Reliance Special Credit Guardian Plan helps you and your family avoid such situa
tions by securing your housing loans, personal loans and even credit card paymen
ts. What makes the Plan special is the fact that on survival at maturity, all pr
emiums paid for your basic Policy will be returned to you.
What if customer already has Life Insurance?

How much insurance does customer need?
How can customer buy insurance?
Help me choose a product
What if customer already has Life Insurance?
As an individual, for the extent of financial protection you need is different f
rom that as a married man which in turn is different from that as a parent. At e
ach life stage, it is necessary to re-evaluate the amount of protection and prov
ision you require and adjust for the same.
Below are some of the events in you life for which you should reevaluate and pla
n your life insurance needs.
Life Stages
Marriage
Birth of a child
Schooling of child
College education of child
Marriage of child
OTHER PLANS OF RELIANCE LIFE INSURANCE:

1- RELIANCE MONEY GAURANTEE PLAN
POLICYHOLDER.
Yes, it’s a trio the pace setter plan, which promises Life Protection, an opportun
ity to gain control over your investments along with protection of downside risk
.
For the select few like you, the Reliance money Guarantee plan is a unit Linked
product addressing comprehensive need to strike that prefect balance of Protecti
on and Savings that you deserve as you grow successfully. The Reliance money Gua
rantee plan is a Regular premium Unit Linked Policy which guarantees the entire
premium (including premiums for top-ups) paid by you. This is a plan, which help
s you reap all the benefits of a rising market simultaneously protecting you fro
m the downside risk of the market.
Benefits in Details
Capital Guarantee: The plan offers Capital Guarantee provided the Policy is kept
in full force by payment of due premiums on time.
Capital Guarantee under the Basic Plan: Premiums paid under the Basic Plan are g
uaranteed on the maturity of the Policy or on death during the Policy Term.
Capital Guarantee under the Top-Up premiums: Each top-up premium paid is guarant
eed on death during the Policy Term provided there are no partial withdrawals fr
om that top-up.
Each top-up premium paid is guaranteed on maturity of the Policy provided the Po
licy Term is greater than ten years, there are no partial withdrawals from that
top-up and the top-up was paid ten years before the maturity date.
Life Cover Benefit: The amount of Death Benefit depends on the age of the Life A
ssured at the time of death
i. If the age of the Life Assured at the time of death is more than 12 year
s last birthday while the Policy is in force, the Company will pay the sum of:
1. Higher of (Sum Assured, Fund Value as on date of intimation of death und
er Basic Plan, Premiums paid under the Basic Plan excluding any extra or additio
nal premiums paid.)
2. Higher of (Fund Value as on date of intimation of death under top- ups a
nd top-up premium paid provided no partial withdrawal is made from that top-up)
ii. However if the Life Assureds age at the time of death is less than or eq
ual to 12 years last birthday while the Policy is in force, the Death Benefit wi
ll be the sum of:
1. Higher of (Fund Value as on date of intimation of death under Basic Plan
and premiums paid under the Basic Plan excluding any extra or additional premiu
ms paid) and
2. Higher of (Fund Value as on date of intimation of death under top- ups a
nd top-up premium paid provided no partial withdrawal is made from that top-up)
iii. The Policy terminates on payment of the Death Benefit.
Maturity Benefit: The Maturity Benefit is the sum of
1. Higher of (Fund Value under Basic Plan and Premiums paid under Basic Pla
n excluding any extra or additional premiums paid).
2. Maturity Benefit under Top-Up. If Policy Term is greater than ten years,
the Maturity Benefit under top-up is the higher of (Fund Value under the top-up
and top-up premium paid provided there is no partial withdrawal from that top-u
p) If Policy Term is ten years; the Maturity Benefit under the top-up is the Fun
d Value under the top-up. The Policy Terminates on payment of the Maturity Benef
it.
Sum Assured
The fixed Sum Assured under the Basic Plan would be calculated as the amount of
annual premiums payable for half the Policy Term
Rider Benefit: You can add Accidental Death & Accidental Total and Permanent Dis
ablement Benefit Rider & Term Life Insurance Benefit Rider.
What are the different fund options?
a. Funds available in respect of Basic Plan and top-up premium
The plan offers three funds for Basic Plan and top-ups - Fund D, Fund E and Fund
F. You have the option to decide your own fund mix with respect to premiums
under the Basic Plan and top-ups.
b. Funds available in respect of Return Shield Option
Return Shield Fund will be available if Return Shield Option is selected. The
returns earned under the Basic Plan and top-ups will be transferred to Return
Shield Fund if Return Shield option is selected.
c. Funds available during settlement period
If you have opted for the settlement option, then Fund C would apply by default
during the settlement period.
2-Reliance Market Return Plan
You have always aspired for the best in life. And we help you achieve just that.
With Reliance Market Return plan you can have the twin advantage of insurance p
rotection as well as reaping the benefits of investment growth. It is a flexible
plan which works all through your life and meets the changing requirements like
additional protection, liquidity through cash, option to invest in different as
set class, steady golden years and many more.
Benefits
Life Cover Benefit: You can choose the basic Sum Assured within the minimum and
maximum levels mentioned below
Minimum Sum Assured:
Regular Premium: Annualized Premium for 5 years or for half the Policy term
Single Premium: 125% of the single premium
Maximum Sum Assured: No Limit (Rs 500,000 for age up to 12 years)
In case of unfortunate loss of life, your Beneficiary will get sum Assured or Un
it Account Value whichever is higher.
Maturity Benefit: On survival, at maturity the value of your Unit Account will b
e paid out.
Rider Benefit: You can add the Accidental Death & Accidental Total and Permanent
Disablement Benefit Rider (available only with regular premium option).
This benefit doubles the life coverage in case of accidental death or accidental
total and permanent disablement at a very nominal additional cost. The maximum
cover is Rs. 50,00,000 per life.
In case of accidental total and permanent disablement, 1/10th of the Sum Assured
will be paid at the end of each year for ten years. If the total and permanent
disablement has commenced, the Accidental Death Benefit Cover ceases.
In case of maturity or on death of the Assured, after payment of installments of
Accidental Total and Permanent Disablement Benefit, the remaining unpaid instal
lments if any will be paid in one lump sum.
Accidental total and permanent disablement means disability caused by bodily inj
ury, which causes permanent inability to perform any occupation or to engage in
any activities for remuneration or profits. This disability should last for at l
east 6 months before being eligible for Accidental Total and Permanent Disableme
nt Benefits. Total and permanent disablement includes loss of both arms or both
legs or one arm and one leg or of both eyes. Loss of arms or legs means dismembe
rment by amputation of the entire hand or foot. Loss of eyes means entire and ir
recoverable loss of sight.
Exclusions to Rider Benefit
Reliance Life Insurance will not be liable to pay any Accidental Death Benefit C
laim or Total and Permanent Disablement Claim which results directly or indirect
ly from any one or more of the following:
• An act or attempted act of self – injury
• Participation in any criminal or illegal acts
• Being under the influence of alcohol or drugs
• Racing or practicing racing of any kind other than on foot
• Flying or attempting to fly in, or using or attempting to use, an aerial device
of any description, other than as a fare paying passenger on a recognized airlin
e or charter service.
• Participating in any riot, strike or civil commotion, active military service, n
aval air force, police or similar services or
• War, invasion, act of foreign enemies, hostilities or war like operations (wheth
er war be declared or not), civil war, mutiny, military rising, insurrection, re
bellion, military or usurped power or any act of terrorism.
3- Reliance Automatic Investment Plan
The Key benefits of Reliance Automatic Investment Plan are as follows:
• A smart plan which adapts to your changing risk profile with increasing age
• Option to lower the average cost of units through systematic transfer of your fu
nds
• Flexibility to switch between funds and plans
• Options for additional Insurance cover available through riders
• Key Features Reliance Automatic Investment Plan
• Two plan options to choose from Ready-made and Tailor-made
• Life Stage asset allocation to ensure automatic change in investment patterns, u
nder the Ready-made Plan option
• Freedom to decide your own fund mix based on your risk profile under the Tailor-
made Plan
Reliance Automatic Investment Plan at a glance
Basic plan Minimum Maximum
Age at entry 30 days 65 years last birthday
Age at Maturity 18 years last birthday 80 years last birthday
Premium paying Term 5 years 30 years
Min sum Assured Regular/Limited Premium: Annualized Premium for 5 years or annua
lized Premium for half of the policy term, whichever higher
Single premium 125% of the single premium amount
Max Sum Assured No limit
SOURCE- BROACHERS of RLIC
Benefit Illustration
To enable a better understanding on how the plan works, please refer to the belo
w table for Regular Premium.
Minimum Premium
Yearly Half Yearly Quarterly Monthly
Regular Premium option Rs 10,000 Rs 5,000 Rs 2,500 Rs 1,000
Limited Premium Rs 20,000 Rs 10,000 Rs 5,000 Rs 2,000
Single Premium Rs 25,000
Min Top Up amount Rs 2,500
Source- website of RLIC
Tax Benefit
As per current tax rules premiums paid are eligible for tax deduction under Sect
ion 80C of the Income Tax Act, 1961. Provided the premium in any years during th
e term of the Policy does not exceed 20% of the Sum Assured, maturity and withdr
awals are eligible for tax benefit under Section 10(10D). Death benefits are tax
free under Section 10(10) D of the Income Tax Act, 1961. Under Section 80C prem
iums up to Rs 100,000 are allowed as deduction from your taxable income.
Service tax and education cess will be charged extra as per applicable rates.
Please note that all benefits payable under the policy are subject to tax laws a
nd other financial enactments, as they may exist from time to time. It is recomm
ended that you consult your tax advisor.
• The premium paid in Unit Linked Life Insurance policies are subject to investmen
t risks associated with capital markets and the NAVs of the units may go up or d
own based on the performance of fund and factors influencing the capital market,
and the insured is responsible for his/her decisions.
4-Reliance Golden Year Plan
• Retirement means different things to different people, while some want to relax
ial lies only with you.
• The Reliance Golden Years Plan gives you the power and the right kind of solutio
n - A retirement plan that allows you to save systematically and generate the mu
ch-needed corpus to make your olden years look golden.
POLICYHOLDER.
5-Reliance Golden years plan Plus
There will come a day when you will hang up your boots and relax. But in order t
o achieve that ultimate stress free mind set for your autumn years, it is import
ant that you plan now! Fulfill your dream of building up a minimum desired retir
ement fund which will ensure the independence you deserve.
A world tour? Golf? Starting a small business or simply spending more time with
your family? Whatever your plans might be, the preparation starts today!
Reliance Golden Years Plan Plus is the right kind of solution for you!
It is a retirement plan that allows you to save systematically, build up the muc
h needed corpus to make your golden years special, while ensuring a basic minimu
m amount collected, should the unthinkable happen before you achieve your dreams
.
POLICYHOLDER.
PENSION
6-Reliance Group Gratuity Policy
In this policy, the investment risk in investment portfolio is borne by the poli
cy holder
The Indian Government introduced the Payment of Gratuity Act in 1972. Generally
gratuity accrues at a rate of 15 days last drawn salary per year of service for
each employee or as defined by the trust deeds. Gratuity is payable immediately
on cessation of employment, provided the employee has continuous service of at l
east five years. The five year provision does not apply on death or disablement
of the employee. Gratuity by nature is a medium- to long-term liability of the e
mployer and accordingly trustees to match assets and liabilities should adopt an
appropriate medium- to long-term investment strategy.
Liability for your employees’ gratuity is often the trickiest thing to forecast ac
curately and manage well. While doing so you may come across some pertinent ques
tions: What is my true liability for employees’ gratuity? How do I manage this lia
bility? Am I maximizing my potential tax benefit? Am I rewarding my most valuabl
e employees adequately? Am I matching long-term liabilities under Gratuity with
my investment strategy? Are my Gratuity assets professionally managed?
Reliance Group Gratuity Plan
This is a unit linked group Gratuity product with three different fund options,
namely Capital Secure, Growth and Balanced Funds. It enables employers / trustee
s with more than 20 employees to outsource the management of their employees’ Grat
uity funds and the related administration to Reliance Life Insurance Company Lim
ited.
Policy Conditions
• Minimum/Maximum annual past service gratuity contribution – Rs.50000/no limit
• Minimum/Maximum Entry Age - 18 years last birthday/64 years last birthday
• Maximum Maturity Age - 65 years last birthday
• Minimum Policy Term - 1 year
• Minimum/maximum Insured death benefit sum assured – Rs.1000 per member/no limits
Capital Secure Fund:
The investment objective of the Capital Secure fund is to maintain the value of
all past service gratuity liability contributions (net of charges). The current
asset allocation limits are: 100% Government securities and bank deposits with d
uration of less than 180 days. Time horizon – Short, Risk Level – Low, Level of expe
cted returns – Low. The contributions in Capital Secure Fund must not exceed 20% o
f the total allocated contributions at any time.
Balanced Fund:
The investment objective of the balanced fund is to provide policyholders with i
nvestment returns which exceed the rate of inflation in the long term while main
taining a low probability of negative investment returns. The current asset allo
cation limits are: 80% min Government securities and corporate bonds & 20% max E
quities. Time horizon – Medium, Risk Level – Low-medium, Level of expected returns -
Medium
Growth Fund:
The investment objective of the Growth fund is to provide policyholders with inv
estment returns which exceed the rate of inflation in the long term while mainta
ining a moderate probability of negative investment returns. The current asset a
llocation limits are 60% min in Government securities, corporate bonds and bank
deposits & 40% max in Equities. Time horizon – Long, Risk Level – Medium-High, Level
of expected returns – Medium
7-Reliance group superannuating plan
“In this Policy, the investment risk in investment portfolio is borne by the Polic
y holder” Ensure a comfortable retirement for your corporate family.
As an employer you currently contribute 12% of each employee s salary into the E
mployees Provident Fund Scheme. However, is this sufficient to provide for an ad
equate retirement income for your employees?
The answer to this question is unfortunately, NO.
Why? There are two main reasons.
Firstly, your employees have the option to withdraw assets from the Provident Fu
nd on a regular basis to meet ongoing lifestyle expenses. Most of your employees
will reach retirement age with an inadequate balance to purchase an income stre
am to provide them a reasonable income on retirement.
The second reason is that employees are now retiring younger but are living long
er. Therefore the capital they need to buy an income stream is much greater than
ever before, and this increase in life expectancy will continue to grow making
this gap even greater
Superannuation is a tax effective way for employers to reward and recognize empl
oyee performance. The Reliance Group Superannuation Policy provides you with the
flexibility to enable you to tailor your Superannuation Scheme to suit various
groups of employees.
Employers can receive a full tax deduction for contributions up to 15% of an emp
loyee s salary into the Reliance Group Superannuation Policy arrangement
3-Reliance cash flow Plan
While most insurance plans block your money for a certain period of time, Relian
ce Cash Flow Plan gives you the double benefit of life insurance along with easy
liquidity through lump sum cash. It provides money periodically when you need i
t.
It lets you live life to the fullest today and at the same time, helps you stay
protected for tomorrow by giving you the flexibility of receiving a specified pe
rcentage of the Sum Assured at specified intervals.
4-Reliance Child Insurance Plan

orrying about his/her tomorrow.
• Policy participates in profit even after the loss of life of the Life Assured
5-Reliance Whole Life Plan
You always loved your family. As a loving person you also wanted to be rest assu
red in the knowledge that they will be happy, even if something were to happen t
o you. With Reliance Whole Life Plan you can be sure that your family will recei
ve that timely financial support they need. Go ahead, live your today to the ful
lest without a worry about tomorrow.
What happens if I discontinue paying premium?
If the Premiums are not paid within the Grace Period, the Policy will lapse. Gra
ce period is one month but not less than 30 days.
General Exclusion
No claim will be paid on death, if the Life Assured, whether sane or insane, com
mits suicide within 12 months from the date of issue of this Policy or the date
of any reinstatement of this Policy.
15 Day Free Look Period
The Policyholder may cancel this Policy by returning it to the Company within 15
days of receiving it together with a letter requesting it be cancelled. The Com
pany will refund the premium paid by the Policyholder less a deduction:
• of the proportionate premium for the time cover has been provided till cancellat
ion
• of expenses incurred by the Company for medical examination of the Life Assured,
Stamp Charges and expenses incurred in that connection.
EMPLOYEE BENEFIT PLANS
Risk Protection
1-Reliance Group Term Insurance Plan:
Reliance Group Term Assurance Policy is a one year Renewable Term Assurance cont
ract. The benefit is payable on the happening of the contingency during one year
. At the end of the year, the contract may be renewed.
Employers looking for a comprehensive professionally administered term assurance
cover for their employees. Subject to approval by the Provident Fund Commission
er, this Policy can be used as a replacement for the Employees Deposit Linked In
surance Scheme under the Provident Fund Act.
Employers looking for a comprehensive professionally administered term assurance
cover for their employees. Subject to approval by the Provident Fund Commission
er, this Policy can be used as a replacement for the Employees Deposit Linked In
surance Scheme under the Provident Fund Act.
A payment is made on the death of an employee. Cover can be:
• Fixed multiple of salary
• % of salary for each year of future service to normal retirement date
• Fixed Rupee amount
• Fixed Age-related scale
• Formula based on designation / rank of employees in the group
If an employee becomes disabled, as defined by us, then the benefit above is
accelerated and paid out in 5 equal annual installments. No further benefit
is payable subsequently. No benefits are payable on survival to the end of the
year.
You can choose:
• Whether or not to provide the benefit on disablement
• Whether or not you wish to benefit from experience in your policy
• Whether or not to give your employees the choice of continuing their cover with
us under an individual policy
At the end of every 3 policy periods, under the basis specified below, we will i
nvestigate the claims experience under this policy. That investigation may lead
us to decide that an experience refund is due. If we declare that an experience
refund is due, we will adjust it against the premium due for the next policy per
iod. If it later turns out that an incorrect experience refund has been paid, th
e policy owner must pay any amount owed to us. Also, we may reduce the amount we
pay under any claim to reflect any amount the policy owner owes.
Experience refund = x% of (y% Premiums-Claims including an allowance for incurre
d but not reported claims)- Losses carried forward from the previous period, if
any. Refer table below:
No. of lives No. of life years X Y
500 1500 50% 60%
1000 3000 50% 60%
500 7500 60% 61%
5000 15000 75% 63%
7500 2500 75% 65%
10000 30000 75% 67%
15000 45000 75% 70%
5000 60000 75% 70%
50000 150000 85% 70%
100000 300000 85% 70%
Source- Broachers of RLIC
2-Reliance EDLI (Employee’s Deposit Link Insurance) Scheme
All establishments with at least 10 full-time permanent employees and to whom th
e Employee s Provident Fund and Miscellaneous Provisions Act, 1952 applies, have
a statutory liability to subscribe to Employee s Deposit Linked Insurance Schem
e (EDLI), to provide for life insurance for all their employees.
The Central Provident Fund Commissioner has approved Reliance Life Insurance Emp
loyee Benefit Life Assurance policies to be offered as an alternative to the Emp
loyee s Deposit Linked Insurance Scheme, 1976 (EDLI).
Several benefits of replacing EDLI by Reliance EDLI Scheme policy are:
Possible reduction in contributions payable by the employer. The premium payable
by the employer under the Reliance EDLI Scheme could be lower than the total co
ntribution paid by the employer under the EDLI Scheme depending on the average a
ge and risk profile of the industry.
Simple structure of the life insurance cover
Life cover provided by EDLI is proportional to the balances in the PF account of
the employee subject to certain maximum limits. Life cover provided by Reliance
EDLI Scheme is a simple flat cover equal to Rs 62,000, the maximum amount speci
fied by the Employee’s Deposit Linked Insurance Scheme, 1976 (EDLI).
Stress - free administration
Experienced and professional administration resulting in hassle free services fo
r member employee data management and claims payments apart from others.
NEW PLANS-
RELIANCE JAN SAMRIDDHI PLAN
bachat chhoti ,khushiyan badi...
Under this Plan the investment risk in the investment portfolio is borne by the
Policyholder
Reliance Jan Samriddhi Insurance Plan is a low cost life insurance cum savings p
lan providing benefits on death and on survival. This plan is specially designed
to facilitate and encourage long term savings with extremely affordable premium
amounts to be invested and get periodic returns, while enjoying insurance prote
ction. It also offers inbuilt accidental cover against financial losses arising
out of life’s adversities like accidental death.
WHICH TARGET SEGMENT IS THE PLAN BEST SUITED FOR?
Any Group i.e. Employers/Associations/Co-operatives/Micro Finance Institutions (
MFI) etc., Affinity, Agricultural laborers, Small and Medium Scale Farmers, Vill
age Craftsmen and Cottage Industry employees amongst others can be offered this
plan to reap the twin benefits of protection and savings.
RELIANCE LIFE HIGHEST NAV GUARANTEE PLAN
A plan that does all the work, while I relax.
UNDER THIS PLAN, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POL
ICY HOLDER
They say “change is the only constant”.
When it comes to your life long investments, uncertainty is the only truth.
Reliance Life Highest NAV Guarantee Plan not only provides insurance protection
but also introduces certainty to your investments.
All of us have experienced, varying degrees of uncertainty in the value of our i
nvestment funds, particularly, over the last two years.
We do not need Warren Buffet or Mark Mobius to tell us - buy when the markets ar
e low and sell when the markets are high.
Surely, you were waiting for the value of your price per unit investments to rea
ch the highest level before you sold and booked your profits.
However, as you waited for the highest point, the market fell a day earlier, or
an hour earlier and you are left holding your investment and looking for another
high.
The key challenge in achieving your objective “highest level” is, one only knows wha
t is high after the opportunity has passed.
“Reliance Life Highest NAV Guarantee Plan” is the answer.
This plan offers you, the opportunity to invest in a new fund namely, “Highest NAV
Guarantee Fund”.
As with all other investments, the NAV per unit of the “Highest NAV Guarantee Fund”
varies over time. However, the critical benefit of this fund is that, Reliance L
ife Insurance locks the per unit price i.e. NAV per unit of your investments in
the “Highest NAV Guarantee Fund” at the highest level ever achieved on or before the
maturity, during the policy term.
RIDERS
Reliance Life Insurance gives you the freedom to form you very own comprehensive
insurance policy by adding the rider benefits to the basic life insurance polic
y. Add from the following list of benefits to increase the scope of you policy,
at nominal cost.
Critical Illness Rider
Accident And Disability Benefit Rider
Term Life Insurance Benefit Rider
Waiver of Premium Rider (WOP)
Critical Illness Rider

Sudden onset of a major Illness causes worries and heavy expenses. Our optional
Critical Conditions Cover helps provide financial relief in such cases. It pays
you the Sum Assured upfront in respect of ten major illnesses.
Cancer
Coronary artery bypass surgery
Heart Attack
Stroke
Kidney failure
Aorta Surgery
Coma
Heart Valve replacement
Major organ Transplant
Paralysis
This Benefit can be availed only once against any one of the illnesses and the C
ompany will not pay the claim if it arises from deliberate self-injury or attemp
ted suicide by the Life Assured, whether sane or insane. This benefit will only
be given, if the diseases are confirmed by a Consultant Physician.
Critical Illness
Age at entry 18 yrs 55 yrs
Age at expiry 25 yrs 64 yrs
Sum Assured Rs 1,00,000 Rs 10,00,000 (subject to a maximum of basic poli
cy sum assured)
Minimum policy term 5
Source- Reliance website
Exclusions
Cancer: Any CIN stage (cervical intraepithelial neoplasia); any pre-malignant tu
mour; any non-invasive cancer (cancer in situ); prostate cancer stage 1 (T1a, 1b
, 1c); all skin cancers including malignant melanoma stage IA (T1a N0 M0); any m
alignant tumour in the presence of any Human Immunodeficiency Virus.
Heart Attack: Non-ST-segment elevation myocardial infarction (NSTEMI) with eleva
tion of Troponin I or T; other acute Coronary Syndromes.
Stroke: Transient ischemic attacks (TIA); neurological symptoms due to migraine.
Coronary Artery (Bypass) Surgery: Angioplasty and/or any other intra-arterial pr
ocedures; key-hole surgery.
Paralysis: Paralysis due to Guillain-Barré-Syndrome.
Waiting and Survival Period
The Company will not pay the Critical Illness Benefit if:
• The critical illness begins prior to or within six months of the commencement da
te or date of reinstatement of the Benefit - Waiting Period
• Death from critical illness takes place within 30 days of the onset of the same –
Survival Period
Accident And Disability Benefit Rider
Accidents are unfortunate and sometimes fatal. You can customize your basic Poli
cy with an Accidental Death Benefit & Total and Permanent Disablement Benefit Ri
der.
The Accidental Death benefit is payable if death occurs directly as a result of
an accident and is intimated within 90 days of the occurrence.
The Benefit payable is equal to the Rider Sum Assured. The minimum Sum Assured i
s Rs 25,000 and the maximum under all Policies taken together is Rs 50,00,000.
The Total and Permanent Disablement Benefit is payable if the Life Assured becom
es totally and permanently disabled directly as a result of an accident.
The Disablement Benefit is equal to the basic Sum Assured paid in ten equal annu
al installments Total and Permanent Disablement is defined as the total and irre
coverable loss of sight of both eyes, or loss by severance of two limbs at or ab
ove wrist or ankle, or total and irrecoverable loss of the sight of one eye and
loss by severance of one limb at or above wrist or ankle for a period of at leas
t six months.
Inbuilt Waiver of Premium
If the Life Assured becomes totally and permanently disabled, then Reliance Life
Insurance will waive all future premiums under the basic policy and riders up t
o a limit of Rs 40,000 p. a.
Exclusions
The Company will not pay any Accidental Death Claim or Total and Permanent Disab
lement Claims, which results directly or indirectly from any one or more of the
following:
• An act or attempted act of self-injury,
• Participation in any criminal or illegal act,
• Being under the influence of alcohol or drugs except under direction of a regist
ered medical practitioner,
• Racing or practicing racing of any kind other than on foot,
• Flying or attempting to fly in, or using or attempting to use, an aerial device
of any description, other than as a fare paying passenger on a recognized airlin
e or charter service,
• Term Life Insurance Benefit Rider:
Add the advantage of the Term Life Insurance Benefit rider to your basic Policy
and increase risk coverage. In the event of unfortunate loss of life the Term L
ife Insurance Benefit is payable and the amount payable is equal to the rider Su
m Assured.
There is no Maturity Benefit.
Term Insurance
Minimum / Maximum Age at entry 18 / 59
Maximum Age at expiry 64 yrs (policy anniversary immediately following age)
Sum Assured Rs 1,00,000 Equal to basic policy sum assured
Policy Term Equal to basic policy term
CHAPTER-4
LIFE INSURANCE PRODUCTS

________________________________________
4.1 Basic Elements Of Life Insurance

• Whole Life Policy: It covers the insured for life. The insured does not receive
money while he is alive; the nominee receives the sum assured plus bonus upon th
e death of the insured.
• Team Policy: This is a pure risk policy. Under this nominee receives the sum ass
ured only if the policyholder dies before the expiry of the term of policy. No b
onus is given in this policy. And the premium is generally very low.
• Endowment policy: it covers the insured for a specific period. The insured or th
e nominee receives the sum assured on survival of the term or on the death which
ever is earlier.
• Money back policies: The nominee receives money on death of the insured. On surv
ival the insured receives money at regular intervals during the term. This polic
y costs more than endowment with profit policies.
• Annuities / children’s policy: The nominee receives a guaranteed amount of money a

t a predetermined time and not immediately on death of the insured. On survival
the insured receives money at the same pre-determined time. These policies are b
est suited for planning children’s future education and marriage costs.
• Pension schemes: These policies provide benefits to the insured only upon the re
tirement. If the insured dies during the term of the policy, his nominee would r
eceive the benefits either as a lump sum or as a pension per month.
• Riders: Riders are a kind of additional features at a very low price that can be
attached to the simple policy to increase its coverage and to make them more at
tractive. Some very popular riders are Term Riders, Disability and Dismemberment
rider, waiver of premium rider, and critical illness rider etc.
4.3 Commission Structure In Insurance Sector
• The maximum commission limits as per statutory provisions are:

35-40% for 1st year premium if the premium paying term is more than 20 years
7.5% -yr2 and 3rd year and 5%-thereafter for all premium paying terms.
In case of Mutual fund related – Unit linked policies it varies between 1.5% to 60
% on between the premiums paid.
• Agency commission for retail pension policies:
7.5% for 1st year premium and 2.5% thereafter Maximum broker commission -30%
• Referral fees to banks :
Max 55% for regular and 10% for single premium. However in any case this fee ca
nnot be more than agency commission as filed under the product. However, the abo
ve commission may be further subjected to the product wise limit specified by IR
DA while approving the productivity.
The insurance sector went through a full circle of phases from being unregulated
to completely regulate and then currently being partly deregulated. It is gover
ned by a number of acts, with the first one being the Insurance Act, 1938.
CHAPTER-5
RESEARCH METHODOLOGY________________________________________
• METHODS :- Questionnaire Method

• SAMPLE SIZE :- 100 Respondent
• DATA COLLECTION :- Primary & Secondary
• TECHNIQUES :- Samples Random Techniques
• SAMPLE AREA:- Bareilly Region
• Contact Method:- Personal Interviews done through
Questionnaire
Methodology of the Project
A research process consists of stages or steps that guide the project from its c
onception through the final analysis, recommendations and ultimate actions. The
research process provides a systematic, planned approach to the research project
and ensures that all aspects of the research project are consistent with each o
ther.
Research studies evolve through a series of steps, each representing the answer
to a key question.
Introduction:-
This chapter aims to understand the research methodology establishing a framewor
k of evaluation and revaluation of primary and secondary research. The technique
s and concepts used during primary research in order to arrive at findings; whic
h are also dealt with and lead to a logical deduction towards the analysis and r
esults.
Research Design:-
I propose to first conduct a intensive secondary research to understand the full
impact and implication of the industry, to review and critique the industry nor
ms and reports, on which certain issues shall be selected, which I feel remain u
nanswered or liable to change, this shall be further taken up in the next stage
of exploratory research. This stage shall help me to restrict and select only th
e important question and issue, which inhabit growth and segmentation in the ind
ustry.
The various tasks that I have undertaken in the research design process are :
Defining the information need
Design the exploratory, descriptive and causal research.
Research Process:-
The research process has four distinct yet interrelated steps for research analy
sis
It has a logical and hierarchical ordering:
Determination of information research problem.
Development of appropriate research design.
Execution of research design.
Communication of results.
Each step is viewed as a separate process that includes a combination of task ,
step and specific procedure. The steps undertake are logical, objective, systema
tic, reliable, valid, impersonal and ongoing.
Exploratory Research:-
The method I used for exploratory research was
Primary Data
Secondary data
Primary data:-
New data gathered to help solve the problem at hand. As compared to secondary da
ta which is previously gathered data. An example is information gathered by a qu
estionnaire. Qualitative or quantitative data that are newly collected in the co
urse of research, Consists of original information that comes from people and in
cludes information gathered from surveys, focus groups, independent observations
and test results. Data gathered by the researcher in the act of conducting rese
arch. This is contrasted to secondary data which entails the use of data gathere
d by someone other than the researcher information that is obtained directly fro
m first-hand sources by means of surveys, observation or experimentation.
Primary data is basically collected by getting questionnaire filled by the respo
ndents.
Secondary data:-
Information that already exists somewhere, having been collected for another pur
pose. Sources include census reports, trade publications, and subscription servi
ces. Data that have already been collected and published for another research pr
oject (other than the one at hand). There are two types of secondary data: inter
nal and external secondary data. Information compiled inside or outside the orga
nization for some purpose other than the current investigation. Data that have a
lready been collected for some purpose other than the current study. Researchin
g information which has already been published.
Secondary source of data used consists of books and websites
My proposal is to first conduct a intensive secondary research to understand th
e full impact and implication of the industry, to review and critique the indust
ry norms and reports, on which certain issues shall be selected, which I feel re
main unanswered or liable to change, this shall be further taken up in the next
stage of exploratory research.
Descriptive Research:-
Step in the descriptive research:
Statement of the problem
Identification of information needed to solve the problem
Selection or development of instruments for gathering the information
Identification of target population and determination of sampling Plan.
Design of procedure for information collection
Collection of information
Analysis of information
Generalizations and/or predictions
Data Collection:-
Data collection took place with the help of filling of questionnaires. The quest
ionnaire method has come to the more widely used and economical means of data co
llection. The common factor in all varieties of the questionnaire method is this
reliance on verbal responses to questions, written or oral. I found it essentia
l to make sure the questionnaire was easy to read and understand to all spectrum
s of people in the sample. It was also important as researcher to respect the sa
mples time and energy hence the questionnaire was designed in such a way, that i
ts administration would not exceed 4-5 mins. These questionnaires were personall
y administered.
The first hand information was collected by making the people fill the questionn
aires. The primary data collected by directly interacting with the people. The r
espondents were contacted at shopping malls, markets, places that were near to s
howrooms of the consumer durable products etc. The data was collected by intera
cting with 100 respondents who filled the questionnaires and gave me the require
d necessary information. The respondents consisted of house wives, students, bus
iness men, professionals etc. the required information was collected by directly
interacting with these respondents.
DETERMINATION THE SAMPLE

PLAN AND SAMPLE SIZE
Target Population:-
It is a description of the characteristics of that group of people from whom a c
ourse is intended. It attempts to describe them as they are rather than as the d
escriber would like them to be. Also called the audience the audience to be serv
ed by our project includes key demographic information (i.e.; age, sex etc.).The
specific population intended as beneficiaries of a program. This will be either
all or a subset of potential users, such as adolescents, women, rural residents
, or the residents of a particular geographic area. Topic areas: Governance, Acc
ountability and Evaluation, Operations Management and Leadership. A population t
o be reached through some action or intervention; may refer to groups with speci
fic demographic or geographic characteristics.
Sample Size:-
This involves figuring out how many samples one need.
The numbers of samples you need are affected by the following factors:
• Project goals
• How you plan to analyze your data
• How variable your data are or are likely to be
• How precisely you want to measure change or trend
• The number of years over which you want to detect a trend
• How many times a year you will sample each point
• How much money and manpower you have
Sample Size:-
I have targeted 100 people in the age group above 21 years for the purpose of th
e research. The sample size is influenced by the target population. The target p
opulation represents the Sitapur. . The people were from different professional
background.
The details of our sample are explained in chapter named primary research where
the divisions are explained in demographics section.
Sampling Technique:-
Simple random sampling technique has been used to select the sample
A simple random sample is a group of subjects (a sample) chosen from a larger gr
oup (a population). Each subject from the population is chosen randomly and enti
rely by chance, such that each subject has the same probability of being chosen
at any stage during the sampling process. This process and technique is known as
Simple Random Sampling, and should not be confused with Random Sampling.
Sampling Frame:-
A list of employees and departments or other specifications or the units, which

constitute the available information relating to, the population designated for
particular sampling scheme.
The selection of the sample was done on the random basis. No particular departme
nt or person’s name was followed, so that the responses should be non-biased and m
ore extensive to be able to explain for large population.
CHAPTER-
ANALYSIS & INTERPRETATION
________________________________________
What is performance appraisal in RLIC?
Table 1.1
Employees Performance 72
Diversification Standard 4
Both 24
None 0
Total 100
Interpretation:
Here , this question is about the meaning of performance appraisal pref
erred by the employees working in RLIC . From this chart we analyze th
at 72% employees prefer – to evaluate employees performance , 4% on di
versification from the standard and 24% employees preferred both.
Is performance appraisal followed by RLIC?

Table 1.2
Yes 100
No 0
Total 100
Interpretation:-
From the analysis I found that there is 100% performance appraisal
system followed in RLIC.
What method of performance appraisal is followed by RLIC?
Mgt. by objective 32
B.A.R.Scale 24
360 D performance appraisal 36
Any other 8
Total 100
Graph-1.3
Interpretation:-
In this question I am tried to find out the method followed by RLI
C. Then above diagram shows that 32% employees gave their opinion about
M.B.O, 24% Behaviorally anchored rating scale , 36% 360 Degree perfor
mance appraisal and 8% any other method like BELL CURVE theory.
Do you find your appraisal method has become obsolete and need to be changed?
Yes 80
No 20
Total 100
Interpretation:-
The above depict diagram shows that 80% employees believe that the pre
sent appraisal system has become obsolete and it need to be changed
20% employees in favours of present method.
Is performance appraisal positive procedure to evaluate employee’s performance?
Yes 84
No 16
Total 100
Interpretation:-
From this pie chart , it is clear that 84% employees thought that p
erformance appraisal is a positive procedure to evaluate employees per
formance & 16% employees did not think so.
Is performance appraisal necessary for employees motivation?
Yes 100
No 0
Total 100
Interpretation:-
Here , from the analysis I found that 100% employees accepted that pe
rformance appraisal is one best way to motivate the individuals so th
at they work in an effective manner.
How many times you get performance appraisal in RLIC?
Zero 24
One 24
Two 20
Three or more 32
Total 100
Interpretation:-
In this question I asked employees that how many times they got performa
nce appraisal . From the analysis 24% did not got any kind of apprais
al , 24% got one appraisal , 20% got two times appraisal & 32% got thr
ee or more times appraisal .
Which mode of performance appraisal you get in RLIC?
Monetary 92
Non-monetary 8
Total 100
Graph-1.8
Interpretation:-
From the 100 respondents in RLIC, only 76 employees got appraisal out of
which 92% got monetary mode of appraisal & 18% got non monetary.
Is performance appraisal lengthy process in RLIC?
Yes 16
No 84
Total 100
Interpretation:-
Here , this pie chart represents perception of employees towards apprai
sal process in RLIC. 84% employees said that it is not lengthy but 1
6% said it is lengthy process.
Who evaluate performance of employees in reliance life insurance?
Zonal Manager 20
Regional Manager 0
Branch Manager 20
As per hierarchy 60
Total 100
Interpretation:-
Above chart explain who evaluate employees performance and I found 20%
employees told that their performance appraised by Zonal Manager ,20% by
Branch Manager ,60% employees told that their performance was evaluat
ed as per hierarchy .
Is performance appraisal basis for promotion or demotion?
Yes 80
No 12
None 8
Total 100
Graph-1.11
Interpretation:-
Here , this bar chart clearly presented promotion & demotion on the
basis of performance appraisal .80% employees enjoy the promotion 12% suff
ered demotion & 8% neither got promotion nor demotion.
Who communicate goals to the employee?
Immediate Boss 80
Regional Manager 12
Head of the department 8
Any other 0
Total 100
Interpretation:-
In my analysis ,I found who communicate goals to the employees in RLIC

80% employees are communicated by Immediate Boss, 12% by Regional M
anager & 8% by the Head of Department.
Do you think that performance appraisal system is made with care, seriousness a
nd attention?
Yes 96
No 4
Total 100
Interpretation:-
In this question ,I am tried to found that performance appraisal system
was made with care seriousness & attention in RLIC . with the analysi
s I saw 96% employees are agree with the statement & 4% employees are
not agreed. Hence, the result is majority of employees think that
performance appraisal system made with care , seriousness & attention.
Do you think this system is conducted on fair basis?
Yes 92
No 8
Total 100
Interpretation:-
From the depicted diagram, it is clear that 92% employees said apprai
sal system is conducted on fair basis in RLIC & 8% employees was aga
inst from above statement. Hence the result shows maximum number of emp
loyees think performance appraisal system is made on fair basis.
Is there any kind of feedback is given to employees regarding
their performance appraisal?

Yes 56
No 44
Total 100
Interpretation:-
Here, in this question I am trying to solve the query regarding whethe
r the employees have provided any kind of feedback or not . From the
analysis I found 56% employees are agreed while 44 % are not agreed
. Hence, majority of employees said that feedback is given to them.
Are you satisfied by the way your performance evaluated?
Yes 92
No 8
Total 100
Interpretation:-
From this question , I am asking from the employees for their satisfac
tion in RLIC. I found that 92% employees are satisfied by their perfor
mance evaluation process and 8% employees are not satisfy by the way
on which they are evaluated. Hence, the result shows that most of the
employees are satisfied by the performance appraisal system.
CHAPTER-7
FINDINGS
________________________________________
1) It was found employees and people prefer not to take risk unnecessary.
2) It was found that there are many persons who are unaware of the changing
situation in this fast changing world.
3) Maximum number of people are concerned with their benefit only.
4) Mostly a large number of employees were not serious about their performa
nce appraisal
5) Mostly employees are not aware about the performance appraisal policy of
their company.
6) Most employees were traditional in approach.
7) Employees were in favor of take minimum risk to improve their performanc
e appraisal.
7.2 Limitation Of The Study:-
1) Performance is not understood in right context by a large number of empl

oyees.
2) In this project the samples size taken was very small in comparison to l
arge number of population.
3) There is a chance of biases in the answers given by the employees as the
y may hide some important information in provide false information.
4) Performance appraisal is newly introduced topic in India as in compariso
n with US. So, it will take time to get the required results.
5) Most of employees do not know how to check their performance and how to
asses their professional capability.
6) Lack of knowledge about the profession and performance is the cause of l
ow performance of the employees.
7) Some of the employees are enable to provide latest information regarding
performance appraisal such as 360 degree appraisal.
7.3 Recommendations
1- The employees should be aware that they can produce better results if th
ey have idea of performance appraisal.
2- Majority of people and employees should be motivated to take risk and fa
ce uncertainty associated with the future.
3- There is a need to change the perception of employees and to make them r
ealized without the knowledge of performance appraisal they can not survive in t
his world.
4- It is thus recommended that the basic knowledge of employees and people
should be enhanced. So, that they can provide better result.
5- The rural people are not aware of benefit of performance appraisal.
6- Opportunity should be provided to them to improve their working conditio
ns and overall performance.
Suggestions of performance appraisal

1. Lack of clarity about the purpose of appraisal like how it will help them imp
rove their job. Many employees are not even aware that a good or bad appraisal c
an impact their career prospects.
2. Lack of faith in the appraisal process: Employees think that their manager do
esn’t write appraisals based on employee’s performance but bias their decisions base
d on their personal relations with employees.
3. The time consuming process: The highly complex questions which they have no a
nswers to or highly complex competencies which they have never heard of confuse
them. Thus employees think that appraisal is a disturbance to their normal work.
4. Difficulty in writing appraisals: Many employees have poor language skills an
d they are unable to communicate their performance in right language and support
with data. This difficulty is further increased when they find extremely diffic
ult questions/ terminology in the appraisal.
5. The lack of feedback after the appraisal: Many companies do not provide feedb
ack to employees on their performance. In a paper based appraisal process the ap
praisal usually find its place in HR closets!
7.4 CONCLUSION
The performance appraisal plays a very vital and important role in the process o
f economic development of any country. It acts as a motivation of savings, hard
work, promotion, and self development.
The performance appraisal leads to efficient and productive allocation of capita
l resources, facilitate growth of trade and commerce .
The performance appraisal also responsible for promotion of employees and assist
individuals and firms in efficient management of risk accidents, low productio
n and low quality.
A general impression that I gathered during Data collection Analysis was the im
mense awareness and knowledge among people about performance appraisal in vari
ous companies .
The general satisfaction levels among public with regards to appraisal policy
stillrequires improvement. there lies the opportunity for a relative comparisio
n of different organization and companes regarding The performance appraisal .
7.5 SWOT ANALYSIS

A key tool in the strategic planning process can also be applied to career plann
ing. This tool is a marketing analysis using the SWOT technique. A SWOT analysis
focuses on the internal and external environments, examining strengths and weak
nesses in the internal environment and opportunities and threats in the external
environment. Imagine your SWOT analysis to be structured like the table below:
SWOT Analysis
I
N
T
E
R
N
A
L Your
Strengths Your
Weaknesses
E
X
T
E
R
N
A
L Opportunities
in Your Career Field Threats
in Your Career Field
To construct your own SWOT analysis to set a course for your career planning, ex
amine your current situation. What are your strengths and weaknesses? How can yo
u capitalize on your strengths and overcome your weaknesses? What are the extern
al opportunities and threats in your chosen career field?
I
N
T
E
R
N
A
L Strengths
Internal positive aspects that are under control and upon which you may capitali
ze in planning
•Work Experience
•Education, including value-added features
•Strong technical knowledge within your field (e.g. hardware, software, programmin
g languages)
•Specific transferable skills (e.g., communication, teamwork, leadership skills
•Personal characteristics (e.g., strong work ethic, self-discipline, ability to wo
rk under pressure, creativity, optimism, or a high level of energy
•Good contacts/successful networking
•Interaction with professional organizations
Weaknesses
Internal negative aspects that are under your control and that you may plan to i
mprove
•Lack of Work Experience
•Low GPA, wrong major
•Lack of goals, lack of self-knowledge, lack of specific job knowledge
•Weak technical knowledge
•Weak skills (leadership, interpersonal, communication, teamwork)
•Weak job-hunting skills
•Negative personal characteristics (e.g., poor work ethic, lack of discipline, lac
k of motivation, indecisiveness, shyness, too emotional
E
X
T
E
R
N
A
L Opportunities
Positive external conditions that you do not control but of which you can plan t
o take advantage
•Positive trends in your field that will create more jobs (e.g., growth, globaliza
tion, technological advances)
•Opportunities you could have in the field by enhancing your education
•Field is particularly in need of your set of skills
•Opportunities you could have through greater self-knowledge, more specific job go
als
•Opportunities for advancement in your field
•Opportunities for professional development in your field
•Career path you ve chosen provides unique opportunities
•Geography
•Strong network Threats
Negative external conditions that you do not control but the effect of which you
may be able to lessen
•Negative trends in your field that diminish jobs (downsizing, obsolescence)
•Competition from your cohort of college graduates
•Competitors with superior skills, experience, knowledge
•Competitors with better job-hunting skills than you
•Competitors who went to schools with better reputations.
•Obstacles in your way (e.g., lack of the advanced education/training you need to
take advantage of opportunities)
•Limited advancement in your field, advancement is cut-throat and competitive
•Limited professional development in your field, so it s hard to stay marketable
• Companies are not hiring people with your major/degree
CHAPTER-8
BIBLIOGRAPHY
________________________________________
WEBSITE : -
1- www.reliancelife.com
2- www.catholic.org
3- www.performanceappraisal.com
4- www.fastcompany.com
5- www. Wikipedia.com
9-www.reliance.capital.co.in
BOOKS :-
1- Human Resource Management By L.M. Prasad
2-Personnel Management By C.B. Mamoria and S.V. Gankar
QUESTIONNAIRE
ON
PERFORMANCE APPRAISAL IN RELIANCE
LIFE INSURANCE COMPANY
The information and opinion given by you shall be confidential and will be used
for academic purpose only.
1. Introduction profile:-
a) Name:-…………………………………………………………
b) Age:-……………………………………………………………
c) Date of joining:-……………………………………………….
d) Current profile:-………………………………………………..
e) Contact No.:-……………………………………………………..
2. What is performance appraisal in RLIC?
a) To evaluate employees performance ( )
b)Diversification from the standard ( )
c) Both ( )
d)None ( )
3. Is performance appraisal followed by RLIC?
a) Yes ( )
b) No ( )
4. What method of performance appraisal is followed by RLIC?
a) Management by objective ( )
b) Behaviorally anchored rating scale ( )
c) 360 degree performance appraisal ( )
d) Any other, Please specified:-……………………………………..
5. Do you find your appraisal method has become obsolete and need to be changed?
a) Yes ( ) b) No ( )
6. Is performance appraisal positive procedure to evaluate employee’s performance?
a) Yes ( ) b) No ( )
7. Is performance appraisal necessary for employees motivation?
a) Yes ( ) b) No ( )
8. How many times you get performance appraisal in RLIC?
a) Zero ( )
b) One ( )
c) Two ( )
d) Three or more ( )
Please specified……………………………………………………
9. Which mode of performance appraisal you get in RLIC?
a) Monetary ( )
b) Non –monetary ( )
10. Is performance appraisal lengthy process in RLIC?
a) Yes ( ) b) No ( )
11. Who evaluate performance of employees in reliance life insurance?
a) Zonal Manager ( )
b) Regional Manager ( )
c) Branch Manager ( )
d) As per hierarchy ( )
12. Is performance appraisal basis for promotion or demotion?
a) Yes ( ) b) No ( )
c) Both ( )
13. Who communicate goals to the employee?
a) Immediate boss ( )
b) Regional Manager ( )
c) Head of the department ( )
d) Any other ( )
14. Do you think that performance appraisal system is made with care, seriousne
ss and attention?
a) Yes ( ) b) No ( )
15. Do you think this system is conducted on fair basis?
a) Yes ( ) b) No ( )
16. is there any kind of feedback is given to employees regarding
their performance appraisal?

a) Yes ( ) b) No ( )
17. Are you satisfied by the way your performance evaluated?
a) Yes ( ) b) No ( )
Suggestions---------------------------------------------------------------------
----------------------
Date: -
Signature:-
Place: -
A Reliance Capital Company
Application for Insurance Advisor
Application No.
(Please note this application no. for your record)
(Please fill up the form in your own handwriting with capital letters)
Kindly affix
your photograph
and sign
For head office use only
Client Number :
Advisor Code No. :
License No. :
Date of Issue :
Expiry Date :
D D M M Y Y Y Y
D D M M Y Y Y Y
For your careful consideration
a. All the questions are to be answered in detail
b. Your appointment is subject to the provisions of Insurance Regulatory an
d Development Authority (Licensing of Insurance Agent) Regulations 2000
2. Address (in Block Letters)
a. Present
b. Permanent
3. Tel (O) Fax
Tel (R) Cell
Email
4. Education Qualification (Tick the highest qualification): n Class X n C
lass XII n Graduate n Post Graduate
n Associate/Fellowship of III n Associate/Fellowship of CA n Associate/
Fellowship of ICWAI n Associate/Fellowship of CS
n Associate/Fellowship of Acturial Socuiety of India n MBA n Others
Basic Qualification Detail: n Class X n Class XII
Board Name Roll No. Year of Passing
5. Category: n General n SC n ST n OBC
6. Primary Profession:
SM/CDA Code SM/CDA Name
CSC Branch Location
Sales Unit Code:
1. a. Name in full Mr./Mrs./Miss
b. Father s/Husband s Name
c. Sex n Male n Female d. Date of Birth
e. Marital Status n Single n Married n Divorced f. Nationa
lity
g. Nominee Name Relationship Age
h. Bank Name A/C No.
(Attach a copy of cancelled blank cheque for all banks except I
CICI/HDFC Bank)
i. PAN Number
j. Reliance Life Branch Name
D D M M Y Y Y Y
7. Employment Record (Beginning with your present employment, list all pos
itions held over the last 3 employments):
From To Name and Address of Employer Last Position Held Annual Income Reasons fo
r Leaving
Examination Details:
Mode of Exam : n Online Exam n Manual Exam Examination Body: n III n NSE-IT Date
of Exam:
Exam Centre: Medium of Language:
D D M M Y Y Y Y
15020708
8. Are you related to any employee/channel associate/medical examiner of R
eliance Life Insurance Company Limited?
If Yes, provide details
9. Have you at anytime held an Insurance Agency for any General/Life Insur
ance Company? n Yes n No
If yes, please give details:
10. Are you willing to work as a Full Time or Part Time Advisor? n Full
Time n Part Time
11. Please give two References (Mandatory)
I agree to abide by the terms and conditions as laid down in various Regulations
and Acts applicable to working as an Advisor of Reliance Life Insurance
Company Limited.
I do hereby declare that the foregoing statements and answers are to the best of
my knowledge and belief, true and complete and that they shall be
the basis of Contract of the Agency between me and the Reliance Life Insurance C
ompany Limited and that if any of the foregoing statements or
answers are untrue or incomplete the said Contract shall stand automatically ter
minated from the date on which such knowledge comes to the
company.
I hereby confirm that this Agency Application Form has been completed by me in m
y own handwriting.
Date:
Place: Signature of Applicant
Name and Address (1) Name and Address (2)
Name of Company / Corporation
License Number
Date of Issue
Date upto which License is/was valid?
Agency Code Number
Date of termination of Agency
Reasons for termination of Agency
Confidential and for internal communication only.
I hereby confirm that I have personally verified the identity details (including
the photograph) and address details (permanent and current)
of the candidate mentioned in question number 1 and 2 and report that the detail
s given are correct.
Mktg/Insurance Agency Form/Version 1.3/January 2010
n Selected n Rejected
The following enclosures are attached with the Advisor Application Form: n Age P
roof n Education Proof n Photographs (6 nos.)
SELECTED BY APPROVED BY
SM Name BM Name
SAP Code SAP Code
Signature Signature
Date Date
For branch office use only
INITIAL INTERVIEW EVALUATION BY BM/SM/CDA
CRITERIA
1 Aged 25 and above n Yes n No
2 Education qualification - Graduate n Yes n No
3 Resident in the area for 3 years or more n Yes n No
4 Has Social / Cultural / Professional networking n Yes n No
5 Has ability to communicate clearly and effectively n Yes n No
6 Has personal conveyance n Yes n No
7 Has Sales experience n Yes n No
Phone No.: Phone No.:
Reliance Life Insurance Company Limited (Reg. No. 121)
Registered Office: H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Navi Mum
bai, Maharashtra 400 710, India.
Corporate Office: Ground Floor, Midas Wing, Sahar Plaza, Andheri Kurla Road, And
heri (E), Mumbai 400 059.
Dear Sir / Madam,
Sub: "Collection Incharge for Reliance Life Insurance Company Limited (RLIC)
We are pleased to confirm in writing the terms on which we have appointed you as
our Collection Incharge based on the discussions we had with
you in the past. As a Collection incharge you agree and undertake to "RLIC" that
you shall
n Collect insurance premiums from customers of RLIC in accordance with the
terms stipulated in this Agreement and instructions received from
"RLIC" from time to time and to conform, in all respects and all times, to such
instructions of "RLIC" with respect to the performance of various
commitments under the Agreement.
n Devote such business time, resources and attention to the best of its sk
ill and ability as would be reasonably required to perform the duties and
obligation under this Agreement and advised by "RLIC" from time to time.
n Act in strict compliance with the terms and conditions of this Agreement
and shall at all times use his best endeavors and work diligently.
n Permit "RLIC" and its representatives/agents to enter the premises as an
d when required for the purposes of ascertaining whether the provisions of
this Agreement are being complied with and for usage of premises of the "Collect
ion-in-charge".
Your further undertake and agree with "RLIC" that you shall:
n Not act as an agent, broker or any other insurance intermediary of RLIC
or any other insurance company in any manner whatsoever.
n Not act as a "Collection-in-charge" of any insurance company in any mann
er whatsoever.
n Not represent to any third party that he/she is an agent or insurance in
termediary or representative of "RLIC"
n Not make and ensure that none of its employees, directors, associates ma
ke any statement that is disparaging about, or adverse to, the interests of
"RLIC" or any of its affiliates, group companies, or of its officers, directors,
shareholders or employees including, but not limited to, any statement
that disparages any person, product, service, financing, financial condition, ca
pability or other aspect of the business of "RLIC" or any of its officers,
directors, shareholders or personnel.
It is hereby mutually agreed and declared that nothing contained herein shall co
nstitute or be deemed to be or is intended to constitute the
"Collection-in-charge" as an agent of "RLIC" or to create the relationship of em
ployer and employee whether expressly or impliedly, between "RLIC"
and the "Collection-in-charge" or any of the persons under its charge, which sha
ll include its agents, appointees and representatives.
The relationship between the you and RLIC is that of principal to principal at a
rms length and nothing in this agreement shall be construed as the
"Collection-in-charge" acting as an agent of "RLIC".
Unless otherwise agreed to by "RLIC", in writing, the "Collection-in-charge" sha
ll:
a) Not use the name or corporate logo of "RLIC" or any part thereof except
as authorized by "RLIC" in writing in compliance with the Regulations,
and cause and ensure their employees/ officers / staff does not do the same.
b) Not do or omit to do any act or thing which may in the sole opinion of "
RLIC" bring the name of "RLIC" into disrepute or damage or conflict with
the interests of "RLIC",
c) Not to work in a manner which in the sole opinion of "RLIC" may be detri
mental to the interests of "RLIC" and which affects the business, and
cause and ensure that Agents do not do the same.
d) Not issue, make, alter, vary or discharge any contract, policy or receip
t, not waive any forfeiture, nor incur any liability against "RLIC".
The "Collection-in-charge" is entitled to Service Fees payable by "RLIC", as may
be decided by RLIC from time to time. The payment made of
Collection fee shall be subject to applicable deduction of income tax at source
at the rates applicable in force. The collection fee is inclusive of all taxes
applicable from time to time. In the event the "Collection-in-charge" deposits t
he cheque of Collection fee paid by RLIC in his/her bank account, the
same act shall tantamount to the Collection-in-charge s acceptance to the terms
and conditions of this agreement and the same shall be binding on
both the parties. However, if you donot agree to the terms and conditions of thi
s agreement then you have to send the cheque of collection fee back
at our office in Mumbai or deposit the same at one of our Branch offices And com
municate to us in writing the reasons for your disagreement.
In the event of any breach committed by the "Collection-in-charge", "RLIC" shall
have the full right under this arrangement to stop any fees payable
to the "Collection-in-charge" and recover any fees paid to him/her on the Leads
provided to "RLIC". Without prejudice to any other remedies available
under this Agreement or under common law, "RLIC" and the "Collection-in-charge"
may terminate this Agreement with or without cause, by giving 7
Days notice on ether side.
Without prejudice to any other right or remedies which "RLIC" may have under thi
s Agreement or otherwise in law "RLIC" shall be entitled at its sole
discretion, to terminate this Agreement at any time without liability after the
occurrence of the below mentioned events:
In the event it is required by the Insurance Regulatory Authority of India or an
y other Authority having jurisdiction over "RLIC" or In the event the
"Collection-in-charge" fails or neglects to observe or commits or allows to be c
ommitted any breach of the terms, conditions, provisions or stipulations
of this Agreement, on its part to be performed and if such breach is remediable,
fails to remedy the same within a reasonable time or In the event any
of the undertakings and representations made by the "Collection-in-charge" are f
ound to be false or wrong or In the event the "Collection-in-charge"
does or suffers any act or thing in the consequence of which the business or the
reputation of "RLIC" is adversely affected or In the event the
"Collection-in-charge" by its act/s or omission/s gives "RLIC" reasonable ground
s to believe that its rights may be prejudiced or jeopardized or In the
event it is found at any time that the "Collection-in-charge" is providing Servi
ces to any entity engaged in similar line of business as that of "RLIC"
RLIC shall be entitled to and may at its discretion forthwith terminate this agr
eement and in the event of such termination , no service fee shall be
payable to by "RLIC" to the "Collection-in-charge", even if the same is accrued
before such termination takes effect.
For Reliance Life Insurance Company Limited
Manoranjan Sahoo
Agency Head - Sales & Distribution
I hereby accept the above mentioned agreement.
Inward Number :
Inward Name :
Signature:
Dear Sir / Madam,
Sub: Lead Referral Arrangement
We are pleased to enter into a lead generation arrangement with you wherein you
shall share with Reliance Life Insurance Company Limited
(hereinafter referred to as RLIC) any referral and leads of persons who may be i
nterested in the products offered by RLIC.This arrangement shall come
into effect from the date of issuance of lead generation inward code to you whic
h shall be your unique identification code.
In consideration, apart from the lead generation fees payable to you ,RLIC will
provide you with the requisite practical knowledge and training in the
field of Life insurance distribution.
You will provide leads or refer prospective customers who will be interested in
buying products of RLIC, to the employed Sales Managers of RLIC you
will be mapped to. RLIC shall use these leads to generate awareness of RLIC s pr
oducts through selling such products by its sales managers to the
prospective customers.
You hereby undertake that you shall not publish any insurance advertisement, off
ering or sell any insurance products of RLIC. You further under take
that you shall not directly or indirectly market/ promote/ sell any product of R
LIC. In the event of breach of these conditions , this arrangement may
be terminated for with and you may not be eligible or permitted to become an adv
isor of RLIC or any of insurance intermediaries of RLIC in future or
till such time RLIC may deem fit.
You shall also be held liable to indemnify RLIC in case of any claim/ penalty ra
ised against RLIC of yourself by any customer, Government regulator or
any other person from the aforesaid activities. Thus RLIC shall have the right t
o recover from you the damages / losses suffered by RLIC, in actual, in
respect of the aforesaid activities.
Nothing contemplated in this arrangement, shall constitute or may be construed t
o constitute you as an employee, agent, broker or other intermediary of
Life insurance products of RLIC and it is agreed and understood that the relatio
nship under ths agreement of the parties is on Principal to Principal basis.
You confirm that you do not hold any license from Insurance regulatory & develop
ment authority (hereinafter called as IRDA ) to practice as an life
insurance agent at the time of signing this agreement or providing the services
under this arrangement. RLIC shall not be held liable for any of the
claims raised for non- compliance of the above.
You further undertake not to enter into a similar arrangement or activities with
any other life insurer during the validity of this arrangement and will
keep us fully intimated if you plan to do so. You also agree to protect the busi
ness image and good will of RLIC from being harmed.
You further agree that the leads/Lead Generation/ database provided by you shall
not violate any privacy covenant of IPR of any person in any such
leads/Lead Generation/ databases.
You also hereby agree that you shall hold all the information received by you in
strict confidence and shall use the information only for the purpose
permitted by RLIC, hereinabove stated. In case of breach of any this term, you h
ereby agree to indemnify RLIC, to the extent of damage caused to
RLIC by such action.
RLIC incurs registration expenses towards sponsoring the prospective agents & le
ad generators for examination and licensing. RLIC reserves the right to
recover such expenses from the lead generators. The costs incurred may vary from
time to time and the recovery amount consequently may also vary.
The amount would be a lump sum one to defray the above costs and would be agreed
upon. It is agreed that a lump sum amount will be deducted
from the compensation payable to the lead generators & prospective agents.
Any dispute, controversy or claims arising out of the given arrangement shall be
settled in accordance with the provisions of Indian Arbitration &
Conciliation Act, 1996, wherein the arbitral tribunal shall be composed of a sin
gle arbitrator appointed at the sole discretion of RLIC. You hereby agree
that you will not raise any dispute regarding the appointment of the Sole Arbitr
ator by RLIC, who shall be final and binding on both the parties. The place
of arbitration shall be Mumbai and the language of proceeding shall be English.
The award of the arbitrator shall be final and binding on both the parties.
For this arrangement, RLIC shall pay such fees, as its sole discretion, as may b
e communicated to you from time to time by sending you a cheque
along with list of leads provided by you at the same address intimated by you to
us in writing. Payment made to you would be subject to applicable
deduction of income tax at source at the rates applicable in force. The fee is i
nclusive of all taxes applicable from time to time. In case you deposit this
cheque in your bank account, the same will tantamount to your acceptance to the
terms and conditions of this arrangement and same shall be
binding on both the parties. In case you donot agree to any of the terms and con
ditions, please donot deposit the cheque and return the same at the
following address:
Mr. Puneet Jain
Finance Department
Reliance Life Insurance Company Limited, 1st Floor, Midas Wing, Sahar Plaza, And
heri Kurla Road, Andheri (E), Mumbai 400 059.
In the event of breach by you of any of the provisions of this arrangement, RLIC
may take such actions against you as may be deemed fit by it. RLIC
will have the full right under this arrangement to stop any fees payable to you
and recover any fees paid to you on the Lead Generations/ leads
provided by you to us.
We shall confirm this agreement based on your profile being found suitable by th
e company by issuing a unique code to you to track your activities.
You undertake to provide leads to the sales managers of RLIC only after receipt
of this letter and the code. RLIC shall not incur any obligation for
payment or otherwise on such leads.
This arrangement shall be effective from the date of issuance of the code to you
and shall remain in force unless terminated by RLIC in writing.
However, this arrangement shall get automatically terminated if you acquire a li
cense to act as a licensed life insurance agent or become a promoter,
director, partner, specified person or a corporate insurance executive of any co
rporate agent, either with RLIC or any another life insurance company or
act as an insurance intermediary, in any manner whatsoever for distribution of p
roducts similar to those of RLIC. In case you become an advisor with
RLIC, no commission shall be claimed from the company from the leads provided by
you / logged in during the validity of this agreement on the
ground that policy was issued by the company after you became an advisor. In suc
h a case you shall be entitled to only the lead generation fees due
to you as per this agreement.
This arrangement may also be terminated by either party without assigning any re
ason by giving 7 days prior notice. In such an event, no lead
generation fee shall be payable to you, even if accrued before such termination
takes effect.
We look forward to a long and fruitful relationship with you and your customer.
For Reliance Life Insurance Company Limited
Manoranjan Sahoo
Agency Head - Sales & Distribution
I hereby accept the above mentioned agreement.
Inward Number :
Inward Name :
Signature:
Advisor Name :
RLIC Batch No. :
Training Start Date :
Training End Date :
Training Institute :
Branch :
Region :
Training Type : n Online n Manual
Exam Type : n Online n Manual
Application No.
Attempt at Examination:
1 2 3
Medium of Exam:
Exam Centre Code:
For Transfer of Advisor from other Life
Insurance Company
(License Copy, NOC needed)
FOR OFFICE USE ONLY
(CHECK LIST)
Application Form (RLIC) n
IRDA Form (VA) n
Photographs (6 nos.) n
Demand Draft n
Age Proof n
Address Proof n
Education Proof n
Yellow Form n
Remarks
ACKNOWLEDGEMENT SLIP
(To be filled by the applicant)
Name of the Candidate:
SM/CDA:
Received from Mr/Mrs:
The Agency Application Form along with DD Number:
For Rs. Dated
Drawn on Bank Branch
For office use only
Remarks
Stamp and Official s Signature
D D M M Y Y Y Y
D D M M Y Y Y Y
Application No.:
n Fresh n Renewal
Name Signature and Rubber Stamp of Branch official
Application No.
BANK ACCOUNT DETAILS
Name of the Bank (Any NEFT Bank only)
(Attach a copy of cancelled blank cheque for all banks except ICICI/HDFC Bank)
Bank Account Number Mobile Tel
Location PAN Number
I hereby declare that the above details are true and I have no objection if Reli
ance Life Insurance Company Limited directly credit the commission
amount in the bank account mentioned above.
Signature Name (as it appears on cheque)
Application No.
15020708
15020706
15020704
15020703
Instruction to Candidates:
1. This ID is valid for one month from start date of training.
2. Entry to the training will be only on production of this card.
Please carry it everyday during training.
ACCEPTABLE EDUCATION PROOFS
1. 10th Standard Marks Sheet/School Leaving
Certificate for Rural Advisors
2. 12th standard Mark sheet/School/College
Leaving Certificate of Urban Advisors
3. Graduation/Post Graduation Completion
Certificate
4. School/College Leaving Certificate
5. Bonafide/Character Certificate given by the
School/College
6. For CA/ICWA/CS/MBA: Copy of the
Membership Certificate provided by the
Institute. MBA should have been done from
an AICTE recognized Institute
7. For Diploma Courses - Mark
Sheet/Certificate mentioning 3 years
ACCEPTABLE AGE PROOFS
1. Birth Certificate
2. Mark Sheet/Admit Card/Education Certificate
3. Passport
4. School/College Leaving Certificate
5. Driving License
6. Insurance Policy of any Life Insurance Company
(Provided standard age proof was submitted in
the previous policy)
7. PAN Card
8. ID Cards issued by Defense Department
9. Domicile Certificate where Date of Birth
was proved on the basis of the School or
Birth Certificate
10. PF Statement from employers which states the
Date of Birth
11. Marriage Certificate and Baptism Certificate for
Christians issued by Church
ACCEPTABLE ADDRESS PROOFS
1. Voters ID
2. Ration Card
3. Utility Bills/Electricity Bills/Water Bills/Gas
latest Bill (less than 3 months old)
4. Telephone Bills - MTNL/BSNL/Mobile
latest Bill (less than 3 months old)
5. Bank Pass book showing last 6 month
transactions
6. Bank Statement/Credit Card Statement for
the last 6 months
7. Passport
8. Permanent Driving License
9. House Allotment Letter/Leave
License/Rent agreement with Permanent
Address Proof
10. Copy of PF/PFF Statements
11. ESIS Card/Statement
12. Employers Certificate for Government
employees
Reliance Life Insurance Company Limited (Reg. No. 121)
Registered Office: H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Navi Mum
bai, Maharashtra 400 710, India.
Corporate Office: Ground Floor, Midas Wing, Sahar Plaza, Andheri Kurla Road, And
heri (E), Mumbai 400 059.
Confidential and for internal communication only
IRDA CERTIFIACTION 2009

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A

SUMMER TRAINING REPORT

Submitted In Partial Fulfillment for the Award of the Degree of

INSTITUTE OF ENGINEERING &TECHNOLOGY,

MBA, 3RD SEM

Anil Dhirubhai Ambani Group (ADAG) announces the acquisition of 100

SCOPE OF THE STUDY

INTRODUCTION 0F THE TOPIC

Performance appraisal is one of the traditional & most universal practices of ma

2.1 What is performance appraisal?

2.2 Features of Performance Appraisal

2.3 Objectives of Performance Appraisal

Appraisal of employee serves several useful purposes:

2.4 What is to be appraised?

2.5 Who will appraise?

2.6 Key Elements of Performance Appraisal Systems

2.8 Objectives Of Performance Appraisal In RLIC

Data relating to performance appraisal of employees are recorded, store

2.9 Process Of Performance Appraisal

• Establishing performance standards:-

• Communicating the standards:-

Once set, it is the responsibility of the management to communicate the standard

• Measuring the actual performance:-

2.10 Purpose Of Performance Appraisal

Performance Appraisal is being practiced in 90% of the organisations worldwide.

METHODS OF PERFORMANCE APPRAISAL

1. Essay Appraisal Method :-

360 Degree Performance appraisal:-

3.1 Tribute To Founder

Late Shri. Dhirubhai H Ambani.

ANIL DHIRUBAI AMBANI GROUP

RELIANCE MUTUAL FUND

RELIANCE GROUP INSURANCE

RELIANCE LIFE INSURANCE

RELIANCE EQUITY AND BOND

3.4 VISION AND MISSION OF RLIC

Empowering everyone live their dreams.

Create unmatched value for everyone through dependable, effective, transparent a

3.7 FUTURE PLANS

3.9 HEAD – OFFICE

3.11 MEANING OF INSURANCE

3.13 BENEFITS OF LIFE INSURANCE

3.15 Different Plans and Policies Of Reliance Life Insurance

RELIANCE LIFE INSURANCE OFFERS A COMPLETE RANGE OF INSURANCE PRODUCTS

SOLUTIONS FOR INDIVIDUAL SOLUTIONS FOR GROUP

Reliance endowment Plan

Reliance Life Traditional golden years plan

Reliance super investment assure basic plan.

Reliance term plan

SAVING AND INVESTMENT PLAN

d) RELIANCE WHOLE LIFE PLAN

b) RELIANCE SUPER GOLDEN YEAR TERM 10 PLAN

c) SUPER AUTOMATIC INVESTMENT TERM 10 PLAN

d) RELIANCE SUPER GOLDEN YEAR BASIC PLAN

e) RELIANCE WEALTH + HEALTH BASIC PLAN

b) RELIANCE CHILD PLAN

d) RELIANCELIFE SECURE CHILD BASIC PLAN

d) RELIANCE CREDIT GAURDIAN PLAN

e) RELIANCE SPECIAL GAURDIAN PLAN

What if customer already has Life Insurance?

OTHER PLANS OF RELIANCE LIFE INSURANCE:

4-Reliance Child Insurance Plan

Critical Illness Rider